Source:
https://scmp.com/tech/e-commerce/article/1900654/chinas-alibaba-partners-banks-agencies-introduce-b2b-financing-and
Tech

China’s Alibaba partners with banks, agencies to introduce B2B financing and rating services

Alibaba and trade show giant UBM also plan to pilot a new online platform connecting suppliers and buyers at five Asia-based conventions in Hong Kong, Kuala Lumpur and Shanghai

(150625) -- HANGZHOU, June 25, 2015 (Xinhua) -- Ma Yun (3rd R), founder and chairman of China's e-commerce giant Alibaba, attends the opening ceremony of MYbank in Hangzhou, capital of east China's Zhejiang Province, June 25, 2105. Alibaba-backed Internet bank "MYbank" opened on Thursday in Hangzhou. MYbank has a registered capital of 4 billion yuan (655 million U.S. dollars). The bank will center on financial services for small and micro business, as well as online consumers through the Internet platform. (Xinhua/Ju Huanzong) (zkr)

China’s e-commerce juggernaut Alibaba announced on Wednesday that it has partnered with more than 25 banks and credit rating agencies globally to provide cross-border trade financing for SMEs as well as a new credit reporting service.

The move comes as the company continues to ramp up its business-to-business (B2B) ecosystem globally by cooperating with offline industries.