According to internal media reports, alibaba's (09988.HK)(BABA.US) Taobao has launched a new operation called 'Taobao Selection', operated by Taobao's official self-operated stores, providing users with officially selected high-quality commodities, similar to the previously launched brand 'Taobao Factory'.

The report quoted insider sources as saying that after the end of this year's 618 promotion, Alibaba Taotian Group held a closed-door meeting at the end of June, indicating that the future strategy of the Taobao platform will weaken the 'absolute low stock price' and refocus on the total transaction value (GMV) of commodities.