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Alibaba ramps up support for small businesses
By Ding Yining |
September 10, 2012, Monday
|
Online Edition
Online Edition
ALIBABA Group, China's largest e-commerce company, said it will foster 1 million small online vendors with an average revenue of over 1 million yuan (US$158,730) a year as the company moves to build a platform for online vendors instead of serving consumers by itself.
"We hope to support small business owners and by doing this some of the employment issues can also be solved," Alibaba President Jack Ma said at the company's annual customer convention in Hangzhou, Zhejiang Province.
Ma said the company will make more online tools and services available to small business owners next year and help them better serve consumers.
He also said Alibaba's next major strategy is to offer financial services for cash-tight small business owners and provide data analysis service to business institutions.
Ma said the e-commerce company will share the mass volume of data generated from tens of thousands of orders on Taobao each day to better predict economic conditions.
In the past two year, the finance division of the group has offered 150,000 entrepreneurs small loans averaging 47,000 yuan in size.
Earlier this year, Alibaba Group was split into seven business units in an effort to improve efficiency and pool resources.
"We hope to support small business owners and by doing this some of the employment issues can also be solved," Alibaba President Jack Ma said at the company's annual customer convention in Hangzhou, Zhejiang Province.
Ma said the company will make more online tools and services available to small business owners next year and help them better serve consumers.
He also said Alibaba's next major strategy is to offer financial services for cash-tight small business owners and provide data analysis service to business institutions.
Ma said the e-commerce company will share the mass volume of data generated from tens of thousands of orders on Taobao each day to better predict economic conditions.
In the past two year, the finance division of the group has offered 150,000 entrepreneurs small loans averaging 47,000 yuan in size.
Earlier this year, Alibaba Group was split into seven business units in an effort to improve efficiency and pool resources.
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