06:45 AM EDT, 07/02/2025 (MT Newswires) -- Alibaba Group's ( BABA ) Taobao online shopping platform is offering 50 billion Chinese renminbi ($6.98 billion) of subsidies over the next 12 months to help consumers and merchants, it said in a WeChat post Wednesday.

The unit has also introduced store subsidies, product subsidies, delivery subsidies, commission exemptions, and commission reductions to enhance growth, Taobao added.

Alibaba's ( BABA ) stock was down 1.9% in recent Wednesday premarket activity.