China's Hangzhou city, Alibaba sign strategic agreement

Hangzhou, the capital of China’s Zhejiang province city, has signed a comprehensive strategic cooperation agreement with the ecommerce giant Alibaba Group Holding, according to a city government statement on Thursday.

According to the statement, it is expected that Alibaba can expand its leading advantage in the platform economy and reinvigorate the innovation momentum of digital trade.

The eastern city also hopes that Alibaba could expand more new businesses and land more new projects in Hangzhou.