The Chinese B2B e-commerce company Alibaba.com has announced that its new online wholesale website, 1688.com, was formally launched on March 9, 2010, and the wholesale traffic reached a whopping 6.39 million people on the first day.

Chinese B2B e-commerce group Alibaba has bought a new domain name, 1688.com, for the launch of its new online wholesale business.

Taobao.com, the Internet shopping subsidiary of the Chinese B2B e-commerce group Alibaba, has announced the formal launch of Tao1shop.tw in Taiwan.

Bank of China and the Chinese B2B e-commerce group Alibaba have signed a comprehensive strategic cooperative agreement to jointly provide e-commerce value-added services to customers.

Chinese online payment platform Alipay has announced that the company has gained over 200 million users, exceeding the world's largest e-commerce payment platform Paypal.

Chinese B2B e-commerce group Alibaba has announced plans to launch a newly-developed product "Ren Mai Tong" today, integrating e-commerce and the social networking service functions to provide an online community for business people.

According to Qiu Changheng, vice president of Alipay, China's first e-commerce credit system is expected to be launched by the end of 2009 and the system will fully cover small and medium-sized enterprises and individual users.

According to Jack Ma, CEO of the Chinese e-commerce giant Alibaba, to help attract small companies in North America to export more goods to China, the company is now seeking cooperative partners in the United States and it has started discussions with companies such as Google, eBay, Yahoo, and Microsoft.

In a move that seems to suggest eBay's subsidiary PayPal might be contemplating a Chinese acquisition, Chinese independent third-party online payment company 99bill.com has signed an agreement with PayPal to cooperate on improving its international payment efficiency and promoting international trade settlement.

Chinese third-party Internet payment platform Alipay has announced that it will start to collect a certain proportion of service charges from large-scale trading and the new policy will take effect from January 1, 2009.