During fiscal year 2016, our China retail marketplaces reached a historical milestone when annual gross merchandise value transaction surpassed RMB 3 trillion, making Alibaba Group the largest retail ecosystem in the world. Our annual active buyers continued to grow, reaching 423 million as of March 31, 2016. Our extraordinary year-over-year growth in mobile transactions, which reached 73% for the quarter ended March 31, 2016, showcased the success of our transformation into mobile-first. Through the acquisition of Youku Tudou and brisk growth in Alitrip and Koubei, we have expanded our offerings beyond physical goods to include digital content and local services, which we believe will be the next wave of growth."
Source: Letter to shareholders from Alibaba CEO Daniel Zhang. 13th October 2016