(Yicai Global) Oct. 24 -- Chinese e-commerce titan Alibaba Group Holding has denied reports that it is cutting down on recruitment.

"The talent and systems upgrade at Alibaba's human resources department is a unique experience," an executive told Tencent News after several Chinese media outlets said the firm was reducing the number of staff it hires. "We had it before. We will continue to have it. We must have it. How can we not have it?" he added.

The Hangzhou-based firm will continue to invest in talent, the executive continued, saying Alibaba spends more on talent than competitors and has more demand for workers due to its investments in technology.