Alibaba officebiz3Alibaba unveiled a new program, called Shengyi 1.0, which is part of another larger initiative Baichuan, to support mobile-app developers. Under the Shengyi 1.0, independent mobile-app developers or start-ups can tap into a RMB 1 billion (US$161 million) fund for investment capital and ask for a low-interest loan.

By offering various forms of support to local App developers to incorporate Alibaba technologies, such as location-based services, targeted marketing and online payment into their new Apps, the initiative is to increase the role of smartphones in Chinese consumers’ daily lives and increase the presence of Alibaba in consumer’s lives online.

Source:  Business Strategies Group Hong Kong  –