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Alibaba to pour 1b yuan into helping SMEs

By Wang Xing (chinadaily.com.cn)
Updated: 2009-03-31 14:59

Chinese e-commerce giant Alibaba Group said it plans to invest 1 billion yuan ($146 million) in the next three years to promote its online management software to Chinese small- and medium-sized enterprises (SMEs).

Related readings:  Alibaba FY revenue up 39%  E. China private enterprises expand amid downturn  Alibaba to invest 300m yuan in Yahoo Koubei  Alibaba invests in Taobao

The new investments will be used in software development, marketing and establishing cloud computing centers that provide SaaS (software as a service) to Alibaba's customers, according to Oliver Wang, senior vice-president of Alibaba Group and president of Alisoft, Alibaba's software subsidiary.

He said the company aims to have 10 million online software users by 2011.

Alisoft will provide free online management software to its users in the next three years and will consider charging "a small amount" of service fees after that, according to Wang.

He said Alibaba Group currently holds over $20 billion in hand and is "very likely" to boost the investment in the future.