Internet giant Alibaba plans to cooperate with a leading Chinese IT company on the development of fintech-related technologies.
On 19 March Aisino Corporation (航天信息股份有限公司) executed a strategic cooperative agreement with Alibaba in the Zhejiang province tech hub of Hangzhou.
Under the agreement Aisino and Alibaba will undertake cooperation in areas including cloud computing services, smart industries, tax operations, government administrative operations, the blockchain and corporate market services.
With regard to cloud computing servies and smart industries, the two parties plan to jointly establish a “city big brain” industry solutions plan that will expedite the growth of China’s smart industries.
The co-operative agreement will see them jointly provide “cloud-based solutions plans and drive the growth of the blockchain sector.”
The two companies also plan to develop tax products for small and medium-sized enterprises, provide credit services and smart mobile offices on the corporate services market, as well as government administration solution plans based on the concept of “Internet + government services.”
Aisino was established over two decades ago, and first commenced the provision of tech solution plans to the Chinese tax authorities in 1994.
The company has 5 branch offices and 53 subsidiaries throughout China, as well as sales and services offices in over 60 countries. It has 18,000 employees, and self-reported annual revenue exceeding USD$3.2 billion.