China's official news agency Xinhua News Agency and the Chinese B2B e-commerce group Alibaba have formed a strategic alliance in Hangzhou to jointly develop online information services.

Under the cooperation agreement of the two parties, Xinhua News Agency will implement a long-term follow-up study on the development of Alibaba Group and will provide various information services, covering domestic and international macro-information, industry, policy, and markets, to Alibaba, depending on its extensive news collecting network and powerful information processing, handling and transmitting capacities.

As the national news agency and the information hub of China, Xinhua News Agency has the richest multi-media information resources in the country. The strategic alliance of the two parties will focus on the joint establishment of a news center on the website of China Yahoo, a subsidiary of Alibaba.

In addition, Xinhua News Agency will set up an analyst team and a technology research and development team to work on a digital analysis system to make effective storage, arrangement, processing, and analysis to the massive e-commerce trading statistics of Alibaba. These statistics will provide important references about market conditions and the economic situation in China to government units, economic departments, and small and medium-sized enterprises.

Representatives from the two parties stated that they believed the participation of the national news agency will add new drive to the development of the e-commerce group. The cooperation with Alibaba will also help Xinhua News Agency create a new information channel in new economic sectors.