News this week: Alibaba
Group’s B2B e-commerce subsidiary, Alibaba.com
launched a financing program “e-Credit Line” in January this year to provide
Open Account-style financing to China-based suppliers and their international
customers regardless of their size. The extended payment terms offered by
Alibaba lasts 60, 90 or 120 days.
Alibaba.com’s venture relies on its partnership with the Bank of China, OneTouch, an Alibaba-affiliated
import/export service company, and the China Export
& Credit Insurance Corp. (Sinosure), a government trade-financing
agency.
Separately, Yahoo
China, which is operated by the Alibaba Group, has closed its Web portal.
The site now displays a good-bye message and redirects visitors to now.taobao.com, a news site operated by Alibaba’s
Taobao.
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