SHANGHAI, Aug 3 (Reuters) - Chief executive David Wei of Alibaba.com said on Monday that they are considering setting up a joint venture company in India to manage its B2B platform, .
Alibaba.com is currently in partnership with India's Infomedia 18, a publishing outsourcing firm, to help Alibaba with customer service and sales and marketing.
Wei also told reporters on the sidelines of a news conference that they are currently talking with them, it will definitely be a joint venture, and Alibaba does not seek to be a controlling stakeholder.
India is Alibaba's second-largest overseas market by member base, with 1 million members.
Alibaba.com also launched on Monday an expansion of its loan programme to help small to medium enterprises in Shanghai, Zhejiang province and Hangzhou city.
The programme, which aims to offer 6 billion yuan ($878.3 million) in loans by the end of 2009, will be run by Alibaba.com and China Construction Bank.
Wei said in a statement that he expects the programme to become available in Beijing, Shenzhen, Suzhou, Guangdong province and Jiangsu province by the end of the year.
China Construction Bank, Alibaba.com and the three regional governments will set up a loan reserve pool of 60 million yuan in each region to serve as a guarantee for the loans. The pool will distribute the risk of bad debts evenly among the three parties.
Monday, October 12, 2009
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