Alibaba group Chairman and CEO Daniel Zhang has launched the “2020 Spring Thunder Initiative” to help small and medium businesses ride out the coronavirus pandemic.
“We will … create new supply chains, stimulate new demand, and promote new trade through a series of aggressive measures,” he promised in a letter to staff.
Zhang says Alibaba will work to help export-focused SMEs expand into new markets through AliExpress, Lazada and Tmall World, offering some companies resource support, fee reductions and fast-track processing to help them transform and develop their business in China. The company will activate manufacturing belts, incubate a group of “Super Producer IP” designations, and foster 10 digitised manufacturing clusters with production output valued at tens of billions in RMB.
Another goal is to help 1000 factories develop direct-to-consumer sales in excess of RMB 100 million (US$14 million) within three years. Alibaba plans to help extend “immediate settlement” services until 30 June, helping alleviate financing challenges for SMEs affected by trading challenges during the coronavirus crisis.
