May 6, 2009 (China Knowledge) - China's Alibaba.com Ltd<1688>, the world's largest online B2B marketplace, said on Tuesday it will raise fees for global members by five times on Jun. 15 as it will offer an upgraded service package, Reuters reported on Tuesday.

The annual fee adjustment aims to bring its new international members outside Greater China region to the same pricing and service level as domestic exporters, as global members currently only account for 2% of Alibaba's revenue. Meanwhile, Alibaba also hopes to attract more members who want better services to run their businesses over the Internet.

Global members who signed up before Jun. 15 would be able to enjoy the upgraded services at the current annual fee of US$589 for the duration of their contract, according the company's statement.

Alibaba last year cut fees for domestic members by 60% to attract more traders and expects its revenue growth to remain modest in 2009.

Hangzhou-based Alibaba posted net profit of RMB 1.205 billion in 2008, representing an increase of 25% from a year earlier. The number of its members also rose 41.4% to 432,000, compared with the beginning of the year. The company is supposed to release its 2009 first quarter result today.