Shanghai, Alibaba, and Ant Financial have signed a strategic cooperation agreement to boost the integrated development of the Yangtze River Delta. According to local media reports (in Chinese), under the new partnership agreement, Alibaba will ramp up its new retail efforts in Shanghai.

Alibaba founder Jack Ma revealed at the signing ceremony that Alibaba has been putting a heavy focus on the development of the Yangtze River Delta regions. Multiple Alibaba-owned businesses are headquartered in Shanghai, including O2O supermarket chain Hema Xiansheng and food delivery platform Ele.me. Alibaba’s mobile payment platform Alipay is also connected with Shanghai’s public service departments and is now capable of handling over a hundred civil affairs.

The company announced that it aims to bring new businesses, technology, products, and business models to Shanghai. It has selected the city as the location for Tmall’s global product launch. Alibaba also plans to boost O2O retail development and will put special focus on traditional retail and preserving age-old brands.

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Nicole Jao

Nicole Jao is a reporter based in Beijing. She’s passionate about emerging trends, news, and stories of human interest within the world of technology. Connect with her on Twitter or via email: nicole.jao.iting@gmail.com.