Beijing, 16th June: Alibaba.com has announced that it has signed a deal with the Shenzhen Development Bank. The two companies will work together to offer loans to the small and medium-sized enterprises (SMEs) using Alibaba.com’s online platform. Loans are available for up to US$2.17 million with a maximum ten year repayment term. Alibaba.com members will be able to apply for the loans through the Alibaba.com platform.   Hong Kong-listed Alibaba.com signed a similar agreement with the Industrial and Commercial Bank of China (ICBC) in June of last year.  Source: Trading Markets article* 

BIIA Newsletter July / August 2008 Issue