Alibaba's five most promising businesses

1. Cloud computing

Cloud computing is the most important business within Alibaba Group, according to Zhang. The 43-year-old CEO referred to it as the engine in the new economic era, which will empower all businesses to better serve consumers and improve productivity

"Our cloud computing service must leap ahead in terms of customer base, quality and efficiency," said Zhang in the meeting.

Alibaba Group's cloud-computing subsidiary Aliyun is teaming up with Dubai-based Meraas Holding as the company uses its technology to extend its influence beyond China. The joint venture is expected to provide a broad range of technology to businesses and governments in the Middle East and North Africa.

An exhibition stand displays cloud-computing technology of Aliyun, a subsidiary of Alibaba Group, at Beijing International Technology Exhibition on May 17, 2015. [Photo/IC]