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Alibaba encourages Chinese sourcing SMEs with new loan plan

Chinese B2B e-commerce group Alibaba has established a small loan company in China’s Zhejiang province to provide loans below CNY500,000 (USD73,573) to its sourcing and procurement clients in Zhejiang.

The company aims to serve the grassroot user group and provide small loans to meet their financing demands for operation expansion and to support the development of these entrepreneurs and SMEs.