REUTERS/Dado Ruvic/Illustration/File PhotoAug 10 (Reuters) - China's Alibaba Group Holding (9988.HK) reported its strongest quarterly revenue growth in almost two years on Thursday, boosted by a mid-year shopping festival that attracted bargain hunting consumers amid a sober economic environment. The Chinese e-commerce giant posted first-quarter revenue of 234.16 billion yuan ($32.29 billion), up 14% from the prior-year quarter which was hit by strict pandemic lockdowns. The figurebeat analysts' estimates of 224.92 billion yuan, according to Refinitiv data. Regulatory concern has eased for China's tech giants, including Alibaba, this year, with Chinese authorities keen to boost private sector confidence. (1 Chinese yuan renminbi = $0.1387)Reporting by Yuvraj Malik in Bengaluru; Editing by Shounak Dasgupta and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

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Persons: Dado Ruvic, Daniel Zhang, Eddie Yongming Wu, Alibaba's, Joseph Tsai, Yuvraj Malik, Shounak Dasgupta, Sharon Singleton Organizations: REUTERS, HK, Cloud Intelligence Group, Tmall, PDD Holdings, Thomson Locations: U.S, China, Alibaba, Bengaluru