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Restricted cash and escrow receivables
 12 Months Ended
Mar. 31, 2025
Restricted Cash and Investments [Abstract]  
Restricted cash and escrow receivables
10.
Restricted cash and escrow receivables

 

 

As of March 31,

 

 

2024

 

 

2025

 

 

RMB

 

 

RMB

 

 

 

(in millions)

 

Buyer protection fund deposits from merchants on the marketplaces (i)

 

 

30,924

 

 

 

35,962

 

Others

 

 

7,375

 

 

 

7,819

 

 

 

38,299

 

 

 

43,781

 

 

(i)
The amount represents buyer protection fund deposits received from merchants on the Company’s marketplaces, which are restricted for the purpose of compensating buyers for claims against merchants. A corresponding liability is recorded in other deposits and advances received under accrued expenses, accounts payable and other liabilities (Note 19) on the consolidated balance sheets.