I think secondly, a change that we — that you have seen following the pandemic is higher demands around ROI, also a function of merchants being more prudent. They want to ensure that the advertising they’re paying for is being effective and paying off in terms of ROI. So, certainly, a more cautious approach, especially to things like the display advertising. Merchants, advertisers are looking for more certainty amidst all of the uncertainty brought about by the pandemic. Alibaba is, of course, very well positioned as both a consumer media and also a platform — the major platform for merchant operations in China. It’s a place that merchants can come and achieve sustainable ongoing business operations and success be empowered with a whole variety of different tools to do that.
And that’s why Taobao and Tmall continued to be the primary place for merchants to come and do business. Now, of course, merchants are always going to explore new formats, new models and new platforms for that matter, that crop up, because they’re always looking to achieve incremental growth in their business. But at the end of the day, they will be looking at the ROI they’re achieving and the sustainability of their investment in gaining incremental new business.
Rob Lin: Okay. Thank you. We’ll take the last question.
Toby Xu: Sorry, Rob, just to complete.
Rob Lin: Go ahead.
Toby Xu: Yeah. So the second part of your question, Alicia, had to do with the take rate on live streaming. So Alibaba has two different kinds of live streaming, the first kind is merchant live streaming. So this is where you have a merchant store online with an employee, or a third-party person engaged by the merchant doing live streaming at the store, and that’s something unique to Alibaba. And then secondly, we have live streaming by opinion leaders in Chinese we call them , so they’re running their own live stream, on which they can give visibility to and promote other merchants. And we have agreements in place to ensure that we’re sharing an incremental revenue growth via a take rate. So that is our model.
Rob Lin: Okay. Last question please.
Operator: Thank you. The final question comes from Jiong Shao from Barclays. Please go ahead.
Jiong Shao: Thank you very much. Good evening, management. My questions have to do with Cainiao, which we see has had very good performance with growth of over 30% in revenue, so a very robust performance this quarter. I’m wondering if you could expand on that a bit and talk to us about some of the reasons that are driving that growth? And also given now that over 70% of Cainiao’s total revenue is external, being generated by external customers, if you could talk to us about the prospects for a potential spin-off of Cainiao? Thank you.
Toby Xu: Thank you. So, this is Toby. I’ll take first question and hand over to Daniel on the second question. So yes, indeed, in this quarter, China’s revenue increased by some 36% year-over-year. In my script, I did go into the reasons for that, and I talked about the strong growth in domestic side, the consumer logistics services and secondly, on the cross-border side as well. But I think the biggest contributor was the local consumer logistics side where we achieved very good growth and improvement, largely thanks to an enhanced service model, so going from more PL model to a 4PL model. We’re not just passing on services to customers, but rather we are booking and purchasing services from different providers and then providing those services on to consumers, meaning that we’re taking on more responsibility for the service enabling us to provide overall better service.
