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Alibaba to invest US$1.6b to set up provincial services points
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ALIBABA Group said it's investing 10 billion yuan(US$1.6 billion) in the next three to five years to set up provincial services points to push forward e-commerce development in rural areas.
The world's largest e-commerce giant said it aims to set up as many as 1,000 provincial operational centers to help more rural consumers adapt to online shopping.
In the first quarter this year, online expenditure from rural areas on Taobao made up 9.1 percent of total transaction volume, up from 7.1 percent in the second quarter in 2012, Alibaba said. It also estimates total rural expenditure to reach 460 billion yuan by 2016.
Vice director of Zhejiang Department of Commerce Xu Gaochun and Alibaba senior vice president Wu Minzhi signed a memorandum of understanding yesterday with regard to the establishment of e-commerce supportive facilities.
Alibaba said its major tasks in rural areas include building logistics infrastructure and encouraging innovative services and products as well as local talent training.
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