Ningbo and Alibaba (China) Co Ltd reach a comprehensive cooperation agreement on May 19 witnessed by Zheng Shanjie, secretary of the CPC Ningbo Municipal Committee, and Alibaba Group CEO Zhang Yong. [Photo/cnnb.com.cn]

Ningbo and Alibaba (China) Co Ltd reached a comprehensive cooperation agreement on May 19. 

According to the agreement, Alibaba will establish a branch in Ningbo to coordinate its business operations in the city.

The two will work together to build industrial internet platforms revolving around the city's pillar industries, such as home appliances, textiles, clothing, and petrochemicals, with the aim of building Ningbo into a national industrial internet center. 

Alibaba will also establish an innovation center to bolster the development of the local manufacturing sector and help the city develop into an international trade hub through the use of the Ningbo Zhoushan Port. 

A joint-venture will be established by the two parties to carry out comprehensive cooperation in the application of digital technologies in economic operations, market supervision, public services, social governance, and environmental protection. 

In addition, the two parties will explore cooperation possibilities in the digital economy by building a big data center and live streaming centers tailored toward cross-border e-commerce.

Zheng Shanjie, secretary of the CPC Ningbo Municipal Committee, met with Alibaba Group's CEO Zhang Yong during the signing ceremony. 

Zheng expressed hope that Alibaba would leverage its strength to support the city's drive to promote digitalization in sectors such as manufacturing, logistics, trade, retail, and urban governance. 

Zhang said that Alibaba will fully participate in the development of Ningbo and help accelerate the digitalization of the city.