On October 9, the Shanghai Municipal Government signed a strategic cooperation agreement with Alibaba Group and Ant Group, to expedite the development of a new online economy powered by new digital infrastructure, financial technology, cross-border commerce, digital life, and cloud-based virtual exhibitions. The partnerships pledge to increase R&D of new technologies such as cloud computing, AI and blockchain. Alibaba will plant three centres in Shanghai, namely the Ali Shanghai R&D Center, Ali New Retail Center, and Ant Technology Center.
“The keyword of Alibaba’s 20-year development is digitalization. The signing of a strategic cooperation agreement today marks a new starting point for cooperation between Alibaba and Shanghai. Next, we must firmly grasp the opportunities for digital development and fully rely on the rich and diverse application scenarios of mega-cities.” Daniel Zhang, CEO of Alibaba Group. (Source)
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