Alibaba.com meets the needs of Chinese SME treasuries

Alibaba.com CFO Maggie Wu talks about the evolution of the online marketplace into a SME treasury tool.
Maggie Wu
Maggie Wu

Once just a simple online bulletin board, Alibaba.com has morphed into a major digital marketplace and an indispensible tool to corporate treasuries across China.

Last month, Alibaba.com announced the creation of China's first small business credit rating system and established a Rmb1 billion $147 million business integrity insurance fund. The company's close relationship with small and medium-size enterprises SMEs has allowed it provide banks with an accurate credit history for those that are looking to borrow. It also acts as a guarantor for banks.

We are a service provider to small businesses, said Maggie Wu, chief financial officer of Alibaba.com. We not only care about our own treasury management there are 615,000...

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