To handle the post-crisis credit problems of Chinese small- and medium-sized enterprises, Alibaba.com, the listed unit of the Chinese B2B e-commerce group Alibaba, has launched an entry-level service tool for corporate credit construction and e-commerce.
With the popularization of this new service tool, Alibaba.com hopes to promote the building of China’s first SME credit system. Based on the transaction records of users of the service tool, Alibaba.com has reportedly set up the largest SME credit system in China. The company also invested CNY1 billion in the establishment of a credit fund to cope with trade disputes and fraud problems.
Jia Jiong, a representative from Alibaba.com’s credit development department, told local media that taking the transaction records of enterprises as references, Alibaba.com will provide different amounts of security credit and financial loan to these enterprises.
Wu Minzhi, vice president of Alibaba.com, said that the company will set up credit files for each SME that uses its corporate credit construction and e-commerce service tool. These files will not only can be inquired by logging in its website 1688.com, but also can be viewed via mobile phones, providing convenience to both SMEs and their buyers.
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