China´s Alibaba 2007 net more than quadruples

Top Chinese e-commerce firm Alibaba.com says it beats forecast with a 340 percent jump in 2007 net profit, thanks to China's buoyant economy, increasing Internet access and growth in the firm's number of paying members.

Accordng to local data firm iResearch, Alibaba.com, in which U.S. Internet company Yahoo is a key investor, dominates China's 3.9 billion yuan business-to-business market, holding a share of over 57 percent.