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Hangzhou, Ant Group reach strategic cooperation

ehangzhou.gov.cn| Updated: October 15, 2020 L M S

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The Hangzhou government signs an agreement with Ant Group, the fin-tech arm of Alibaba, on Oct 14 to form a strategic partnership. [Photo/zjol.com.cn]

The Hangzhou government signed an agreement with Ant Group, the fin-tech arm of Alibaba, on Oct 14 to form a strategic partnership, local media reported.

This is the first agreement to be signed between Hangzhou and Ant Group, and the two sides will focus on industrial development, technological innovation, business applications, spatial expansion, and brand building. The global headquarters of Ant Group has also been officially established in Hangzhou.

"Ant Group was born and raised in Hangzhou. The city's friendly and welcoming environment has helped us become a technological leader, and we are also glad to help Hangzhou become a mobile payment city, a fin-tech city, and a city of digital governance," said Jing Xiandong, chairman of Ant Group.

Ant Group also plans to help the city attract innovative and entrepreneurial talent. By centering on core fin-tech technology, the two sides will continue investing in research and innovation and accelerate the establishment of technological infrastructure and innovative platforms, bringing in more high-end talent from overseas.

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The global headquarters of Ant Group is officially established in Hangzhou. [Photo/zjol.com.cn]

     
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