Alibaba Group Takes Additional Steps to Help SMEs in China Turn to e-Commerce

Alisoft, a wholly-owned subsidiary of Alibaba Group, announced that it will offer free Internet-based management software to all 42 million small- and medium-enterprises (SMEs) in China as part of the Group's ongoing effort to make it easy for SMEs to do business using e-commerce.
The software, called "Shopkeeper(TM: 63.44, -0.17, -0.27%)", comprises an accounting and finance module in the initial edition; an inventory management and a customer relations management module.
Shopkeeper(TM: 63.44, -0.17, -0.27%) will be free to SME users for at least three years. Apart from the free software license, Alisoft will provide free upgrades, training and customer support for all users. Shopkeeper(TM: 63.44, -0.17, -0.27%), a simple-to-use software targeted at key decision makers in SMEs, addresses the need of small business owners who desire to keep track of their money, inventory and customers.

To make Shopkeeper(TM: 63.44, -0.17, -0.27%) and other business software widely available to the market, Alisoft will invest up to RMB1 billion over the next three years to cultivate the SME-focused software industry, and further drive usage of Internet-based software, or "software-as-a-service", as a new paradigm of how businesses use technology to manage their operations.

Bank of China 2008 profit up 14.4 percent

Bank of China Ltd., the third-largest commercial bank by assets, said Tuesday its 2008 profit rose 14.4 percent. However, Chairman Xiao Gang warned that banks' 2009 outlook is uncertain.

"China's economic development still faces significant uncertainties. The impact of the current global financial crisis will continue to worsen and further affect the global real economy," he said. However, he added, "the opportunities faced by the banks still outnumber challenges in 2009.”

Deposits rose 16 percent to 6.9 trillion yuan ($1 trillion), Bank of China said. It trails Industrial & Commercial Bank of China Ltd., the country's biggest lender, and No. 2 China Construction Bank Ltd. in assets.

Chinese top ecommerce-Alibaba seeks partnership

Chinese top ecommerce-Alibaba seeks partnership with American ecommerce leaders.

In order to attract more small companies in North America to import goods from China, talks with such companies as Google, eBay, Yahoo, and Microsoft started by CEO of Alibaba, Jack Ma, the Chinese e-commerce giant.

Ma is eager to cooperate with these companies.

Currently, Alibaba has one million American users in the B2B market and the company plans to invest USD30 million in overseas marketing in 2009.

John Donahoe, CEO of eBay, commenting on the issue said the company was willing to cooperate with Alibaba as both Alibaba’s Alipay and eBay's PayPal payment systems were operating well in China. The two payment platforms are expected to be integrated once the partnership takes an official form.

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China's Alibaba Says Profit Down but Growth Firm in e-commerce

Chinese e-commerce site Alibaba.com reported a fall in fourth-quarter net profit as the company raised sales and marketing costs to maintain growth in the economic downturn.
Alibaba's net profit fell by 57 percent from a year earlier to less than 200 million yuan (US$29.3 million) in the last three months of 2008, the company said Thursday.
Chinese and foreign firms trade everything from lumber and heavy machinery to iPods and televisions on Alibaba's Web site.
Revenue still grew as the company launched new value-added services and a discount scheme that boosted signups for its highest membership level. Fourth-quarter revenue was 805.9 million yuan, up 27 percent from a year earlier.
Alibaba also benefited from a rise in the number of firms looking to cut costs by doing business online amid the recession, David Wei, CEO of Alibaba, told reporters at a briefing.
"We believe tough times create new opportunities, at least for e-commerce," said Wei.
E-commerce is the best solution for trading under the global recession.

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Ecommerce boost in China market---ask Ctopay

Despite the global recession, Ecommerce in China still reports 137.2% last year. A new trend is that the traditional dealers are becoming more Internet concentrated. By 2008, China had 298 million Internet users, 25% of which are online shoppers. The statistics from China Internet Network Information Center (CNNIC) shows.
According to Ctopay, the global online payment provider in China, more and more foreign trading is being conducted online. Thus tremendous online payments need to be settled by Ctopay.
It is predicated that ecommerce market will soar in China.