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Top Chinese e-commerce firm Alibaba Ltd said on Tuesday its full-year 2007 profit grew 340 percent, boosted by a buoyant Chinese economy, increasing Internet access in the country and healthy growth in the firm's number of paying members.
Alibaba, an online business-to-business site connecting companies looking to import and export Chinese goods, was founded in 1999 as a bulletin board for businesses to post trade leads.
Last year, Alibaba had a 57.3 percent share of China's 3.9 billion yuan business-to-business market, according to local data firm iResearch.
Profit up 340PCT at Alibaba [uk.reuters.com]