Friday, September 06, 2013 launches credit service to e-commerce companies

News this week: Alibaba Group’s B2B e-commerce subsidiary, 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.’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, a news site operated by Alibaba’s Taobao.

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