Industrial and Commercial Bank of China and Ping An Insurance (Group) have signed an e-commerce strategic cooperation agreement to implement business cooperation in related areas.

To handle the post-crisis credit problems of Chinese small- and medium-sized enterprises, Alibaba.com, the listed unit of the Chinese B2B e-commerce group Alibaba, has launched an entry-level service tool for corporate credit construction and e-commerce.

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 online auction website Taobao.com is calling on its 130 million users to join a campaign to fight against online credit speculation.

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.

China-based Semiconductor Manufacturing International Corporation announced its consolidated results of operations for the three months ended March 31, 2009, showing overall revenue decreased to USD146.5 million in the quarter, down by 46.2% from the previous quarter.

Wang Hai, China's famous consumer rights advocate, has submitted to a 3000-word report to both the Zhejiang Provincial Department for Industry and Commerce and the Consumer Rights and Interests Protection Department of China's State Administration for Industry and Commerce, accusing Chinese online auction website Taobao.com of infringing on consumers' rights.

Offshore software development company VanceInfo Technologies Inc. will deploy an outsourced development center for China Merchants Bank.

Chinese B2B e-commerce giant Alibaba plans to help Chinese small and medium enterprises gain CNY6 billion in loans from banks in 2009 to help them overcome the impact of the global financial crisis.

In response to the ever increasing Internet company credit crisis, China Internet Network Information Center is proceeding with a domain name management credit system for e-commerce sites.

Guangzhou-based Southern China B2C Credit Alliance was formally set up on May 18 with more than 10 websites as its first batch of members.