Alibaba Establishes E-Commerce Zone in Zhuji, Zhejiang
CCID, 8/24/09
The People's Government of Zhuji, Zhejiang Province, has signed a partnership agreement with e-commerce company Alibaba.com (1688.HK). Under the agreement, the Zhuji municipal government and Alibaba will jointly establish a "Zhuji Local Enterprise E-Commerce Zone" tasked with integrating Zhuji's equipment, material processing, textile, packaging plastics, biochemical/pharmaceutical, and freshwater pearl SME resources and developing overseas markets. Within three years, the number of registered "users" in the e-commerce zone will exceed 50,000, with more than 3,000 of these being paying members, and more than 10,000 of the individual and SME members among these using and developing e-commerce services.
The Zhuji government will provide a three-year dedicated fund of RMB 5 mln per year to help SMEs develop e-commerce services. In addition, the municipal government will also partner with Alibaba to increase the proportion of loans granted to Zhuji SMEs by overseas banks.
Alibaba will provide preferential "Domestic Supplier" and "Chengxintong" (Trust Pass) credit services to Zhuji SMEs, helping the companies open up domestic and international markets. Alibaba will also work with Zhuji's Bureau of Foreign Trade to jointly organize and develop tiered e-commerce training.
Keywords: investment e-commerce Internet training Alibaba SME 1688.HK
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