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Alibaba

Alibaba buys Shenzhen One-Touch Enterprise

PUBLISHED : Tuesday, 16 November, 2010, 12:00am
UPDATED : Tuesday, 16 November, 2010, 12:00am

Alibaba.com agreed to acquire for an undisclosed sum Shenzhen One-Touch Enterprise Service to support its premium-paying subscribers, comprising small mainland exporters. Alibaba.com's fifth acquisition this year will offer comprehensive export-related services tailored to small businesses, including customs clearance, logistics, cargo insurance, currency exchange, tax refund, financing and certification. 'Against the backdrop of slower growth of exports in China, we felt the obligation to help our customers stay competitive and enhance their margins,' David Wei Zhe, chief executive, said yesterday.