Chinese Alibaba Group has announced its support towards SMEs in the country through the 2020 Spring Thunder Initiative amidst challenging times due to the COVID-19 pandemic. This was announced by Daniel Zhang, chairman & CEO, Alibaba Group.
Through the 2020 Spring Thunder Initiative, Alibaba will “leverage the power of commerce and technology to create new supply chains, stimulate new demand and promote new trade through a series of aggressive measures.”
“Small and medium enterprises are the lifeblood of an economy. If SMEs are alive, then the economy will remain alive. If SMEs are thriving, then the economy will thrive,” Zhang stated.
“Twelve years ago, during the 2008 financial crisis, we rolled out three major relief initiatives for SMEs to survive the economic winter. The three initiatives – “Dark Cloud,” “Wild Winds” and “Spring Thunder” – collectively helped 40 million SMEs to fully absorb the confidence and conviction of our e-commerce platform for rehabilitating their business. Not only did we help to resolve the immediate challenges in their operations management and financing, but we also clearly improved their competitiveness in the long run,” he added.
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