Hangzhou Municipal Government and Alibaba Group signed an agreement on deepened strategic cooperation across the board yesterday. The first strategic cooperative agreement between both parties was signed in 2013, which set a precedent for the strategic cooperation between the government and local enterprises. Both parties have cooperated on 166 projects in decade’s cooperation.

The growth of Alibaba has been inseparable from Hangzhou’s inclusion and support. In recent years, Hangzhou has rolled out policies to support the development of local enterprises as it is determined to build China’s No. 1 City of Digital Economy. As an official partner of Hangzhou Asian Games to be held in this September and other international affairs, Alibaba can avail the opportunities to expand its business scope, exploit such businesses as Smart Asian Games and Green Asian Games and enhance its international reputation.

Also, the government relies on Alibaba to expand platform economy and build a digital city. Alibaba is the most representative enterprise of platform economy that has seen rapid development in recent years. Without doubt, Alibaba’s efforts and achievements in reform in face of slack economy as a result of repeated outbreaks of COVID-19 pandemic worldwide offer the valuable experience for the economic development of the government.

Government-enterprise cooperation is mutually beneficial and will make positive contributions to the economic development of Hangzhou.