Taobao Opens Chengdu Innovation Park
ChinaByte, 11/19/10
The Chengdu Taobao Innovation Park, a joint investment of the Chengdu municipal government and Taobao's Hangzhou-based parent Alibaba Group, went into operation today. Construction on the park finished in July of this year; the park has a total area of nearly 68 mln square meters.
The Chengdu Hi-Tech Industrial Development Zone management committee said that related government departments will draft a series of preferential policies for enterprises with offices in the park, including funding incentives, support, and preferential tax policies. Other plans reportedly include a partnership with Alibaba on offering small-sum loans, stock, asset transaction assistance, or even assistance in stock market listing to "outstanding enterprises" located in the park that have Taobao credit ratings of "crown" or above.
The Chengdu Bureau of Commerce will offer incentives for e-commerce retailers in the Park seeking to develop their business. The first time a business's sales volume breaks RMB 1 mln, the business will receive a one-time incentive of RMB 25,000; the first time sales break RMB 5 mln, the one-time incentive will increase to RMB 100,000. If a business's sales break RMB 10 mln, it will receive a one-time incentive of RMB 200,000.
Keywords: government support e-commerce Taobao Internet Chengdu Hi-Tech Industrial Development Zone Alibaba Group
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