Alibaba.com Organises Sourcing Event in Hong Kong

September 4, 2011

Alibaba organised its first “Big Buyer” Sourcing Event in Hong Kong, which was held on Aug. 18. The event attracted nearly 100 suppliers, most of which were Gold Suppliers on Alibaba.com, with an opportunity to present to 10 buying corporations in one-on-one meetings. The sessions reportedly generated US$50 million in orders for the suppliers. This is the first time Alibaba.com has held such an event in Hong Kong. It also featured key note speeches, a panel discussion and a luncheon.

Vincent Wong, senior director of buyer service and development of Alibaba.com, said, “Through today’s event, we not only hope to provide an additional channel for suppliers to connect with large corporations and drive better utilisation of e-commerce, but also encourage them to think of ways to work in partnership with their buyers to foster mutual success.”

Separately, in a bid to combat challenges that exist in China’s quality assurance standards, Alibaba.com has launched Inspection Platform. The new online service is designed to match small buyers with reliable and cost-effective inspection services on the ground in China. Alibaba has selected 20 inspection companies, most of which are in the Pearl River Delta region in south China. The Inspection Platform is one of several measures put in place by Alibaba during the past 18 months to combat online fraud and to improve the experience of small businesses using Alibaba.com.

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MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.