Chinese internet conglomerate Alibaba Group (NYSE: BABA) and its financial services affiliate Ant Financial recently signed a strategic partnership agreement with Jiangxi province, under which the parties will collaborate on several smart industry projects in Jiangxi to promote development of the digital economy. The partnership agreement covers several areas including the government services, industry upgrade, e-commerce, financial services, modern logistics, and smart tourism domains.
Under the agreement, Alibaba and Ant Financial will work to optimize Jiangxi's government services platforms and will help public transportation services to introduce scan code-based payments. They will also use Alibaba's cloud computing and big data technology resources to support development of industrial Internet platforms in Jiangxi and contribute to AI and VR industry development. They will deepen their engagement with rural e-commerce and poverty alleviation programs and will help to advertise high-quality local products from Jiangxi, particularly those from impoverished regions.
Alibaba and Ant Financial's partnership operations in Jiangxi have already produced some initial results. Alibaba's smart logistics company Cainiao Network Technology has established a logistics base in Jiangxi and has partnered with 81 universities in the province to set up campus logistics centers. Thirty-five counties have set up e-commerce service centers and 1,150 towns have set up local service stations with support from Alibaba.