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Article: China: Alibaba.com Helps Chinese SMEs Gain CNY6 Billion Loans.
- Article from:
- TendersInfo
- Article date:
- February 4, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: sander03
Chinese B2B e-commerce giant Alibaba plans to help Chinese small and medium enterprises gain CNY6 billion in loans from banks in 2009 to help them overcome the impact of the global financial crisis.
According to reports in local Hong Kong media, in 2008, Alibaba helped nearly 600 SMEs gain CNY1.04 billion unsecured low-interest loans from banks. This year, with the support of eight Chinese domestic banks, Alibaba will help these SMEs to gain over CNY6 billion in loans. The plan mainly targets the registered members of Alibaba and the covered areas of this plan will be enlarged to such provinces and cities as Guangdong, Jiangsu, Shandong ...