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.

According to China's National Bureau of Statistics, the entrepreneur confidence index in China increased to 120.1 in the third quarter of 2009: an increase of 9.9 points compared with that of previous quarter.

Dhgate.com, a China-based wholesale marketplace that enables global online transactions, has become the first wholesale e-commerce collaboration for shipping giant, UPS in China.

According to data released by China's National Bureau of Statistics, due to factors such as the economic slowdown, decreased exports, and falling share prices, China's retail sales in the first two months of 2009 only increased by 15.2% year-on-year.

Swedish retail group Axfood AB has announced the opening of its representative office in Shanghai.

Kiwa Bio-Tech Products Group Corporation has announced that its subsidiary Kiwa Shandong has received approval documents from the Ministry of Commerce of the People' s Republic of China, allowing it to wholesale other companies' fertilizer products.