Chinese online retail portal Taobao.com has begun construction of its so-called Taobao City office and enterprise development in Hangzhou's Yuhang district.
The new office complex will cost a reported RMB1.36 bn, and will be
divided into two phases. When fully completed by 2014, it will house
all 1,700 Taobao.com employees. There will also be a small enterprise
zone where Taobao will nurture medium and small-sized e-commerce vendors.
The investment for Taobao City will be funded by Hangzhou-based parent company, Alibaba Group.
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