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Alibaba says expects revenue growth of 48 percent in fiscal year 2017

Jack Ma speaks during the 2016 Global Smart Logistics Summit in Hangzhou, Zhejiang Province, China, June 13, 2016. REUTERS/Stringer

HONG KONG (Reuters) - Chinese e-commerce firm Alibaba Group Holding Ltd said on Tuesday it expects revenue growth of 48 percent in 2017, after earlier saying it expects to nearly double transactions volume to more than $900 billion (634.12 billion pounds) by 2020.

Earlier on Tuesday, Executive Chairman Jack Ma said at

an investor conference at Alibaba's headquarters in Hangzhou, Zhejiang province, the company expects to have 2 billion consumers on its books by 2036, up from 423 million active buyers in 2016.

(Reporting by Yimou Lee; Writing by Anne Marie Roantree; Editing by Jacqueline Wong)