BABA-W (09988.HK) -1.100 (-1.036%) Short selling $1.26B; Ratio 11.309% (BABA.US) recently announced a RMB50 billion subsidy plan for Taobao Instant Commerce, according to Citi's research report.The subsidies are expected to be distributed to consumers and merchants over 12 months, though details of the measures haven't yet been provided. However, it is believed that the actual financial impact on the group will be less than the total subsidy amount.Related NewsBOCOMI Lists Southbound Funds' Position Distribution/ Allocation Concentration in Various Sectors of HK Stocks (Table)In Citi's opinion, the large-scale subsidies reflect the management's satisfaction with the initial results of Taobao Instant Commerce achieving 60 million orders within two months of launch.By integrating Ele.me and Fliggy into its China retail business, Alibaba has established the importance of on-demand delivery and travel services as core e-commerce business developments.Anticipating cross-selling benefits between Taobao's core users and instant retail, Citi kept a Buy rating for Alibaba with a target price of USD169.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-04 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)Related NewsJPM Top Picks for CN Stocks for 2H25 (Table)