Taizhou in East China's Zhejiang province signs a comprehensive strategic cooperation framework agreement with Alibaba Group on Oct 19. [Photo/taizhou.com.cn]

Taizhou has taken a significant step forward in its partnership with Alibaba Group.

On Oct 19, the city in East China's Zhejiang province signed a comprehensive strategic cooperation framework agreement with the tech giant, solidifying their long-standing collaboration and paving the way for further joint ventures.

The agreement encompasses a wide range of business sectors within Alibaba Group, including technology, commerce, logistics, culture, and tourism. This comprehensive partnership will enable the two parties to work together on key areas such as digital trade, industrial internet, digital infrastructure, artificial intelligence, and digital consumption.

The roots of Taizhou's relationship with Alibaba can be traced back to 2003, when the company established an office in the city. In 2006, Alibaba's Taizhou branch was established, further strengthening the collaboration between the two entities. Over the past two decades, numerous joint initiatives have been undertaken, resulting in significant achievements for both parties.

One notable success is the digital transformation of over 20,000 companies in Taizhou through Alibaba's communication and collaboration platform, DingTalk. Additionally, approximately 4,000 small and medium-sized enterprises in Taizhou are engaged in cross-border export through Alibaba.com. With the presence of nearly 90,000 Taobao merchants, over 1,800 AliExpress merchants, and almost 1,300 Taobao villages, Taizhou has established itself as a thriving hub for e-commerce.

The impact of this close collaboration is evident in Taizhou's impressive statistics. In 2022, the city's cumulative online retail sales reached 134.93 billion yuan ($18.44 billion), a year-on-year increase of 9.9 percent. In addition, cross-border e-commerce exports from the city amounted to 12.05 billion yuan, reflecting a year-on-year increase of 39 percent.