The municipal government of Shenzhen and the Chinese business-to-business e-commerce company Alibaba Group have signed a strategic agreement for the establishment of an e-commerce platform.

Chinese online retail platform Taobao.com has published its performance report for the first half of 2009 and states it realized trading value of CNY80.9 billion, which is close to its CNY99.96 trading value during the entire year of 2008.

By ChinaTechNews.com Editorial Team Despite a worldwide financial crisis, China's e-commerce industry is seeing something of a boom, growing over 120% in 2008 and with rapid growth projected over the next 3-5 years. At the moment, the demand for low prices and high quality is overwhelming, and traditional wholesale channels are losing ground to Internet-based [...]

Chinese electronics and home appliances retailer Suning has published its performance report for the first half of 2009, stating that its net profit increased by 14.65% year-on-year to CNY1.262 billion.

Shenzhen-based venture capital firm Fortune Venture Capital has announced plans to invest CNY100 million in the domestic Chinese B2B e-commerce platform for large-scale trading, 315.com.cn.

Chinese B2B e-commerce group Alibaba has signed a cooperative agreement with Chengdu Hi-Tech Industrial Development Zone on its new western base project, making Chengdu the first stop for the group's domestic distribution apart from its Zhejiang headquarters.

Terry Guo, chairman of the Taiwan-based electronics manufacturer Hon Hai Group, has announced that the company will invest NTD30 billion to build an industrial park in Haicang, Xiamen, in 2009, aiming to establish an optoelectronics industry cluster in the city.

Chinese online auction website Taobao.com has announced plans to join forces with Zhejiang Provincial Department for Industry and Commerce to begin a pilot program for the online sale of healthcare food and products within Zhejiang province.

Zhang Jindong, chairman of Chinese electronics retailer Suning, says that the company plans to open four to five retail stores in Hong Kong in the second half of 2009, which is one year earlier than its previous plan.

Jiang Yong, vice president for Suning Appliance, said at a meeting held in Changsha, Hunan, that the company would maintain a rapid and stable growth in 2009 by opening at least 200 new electronics retail stores across China, of which at least 10 would be located in Hunan province.

Digital China, a Chinese IT service provider, has launched its B2C website xgou.com, providing IT, communications and consumer electronics products.

Digital China, one of the leading IT product distributors and IT services providers in China, is trying to move its traditional offline distribution pattern to online with an independent and professional B2C website which is expected to be launched in September this year.