South China's Hainan Province on Friday signed an agreement with Alibaba to deepen all-round strategic cooperation. Alibaba becomes the first firm to do so after China announced the island of Hainan would become a pilot free trade zone and gradually a free trade port.[Special coverage]
Hainan will deepen cooperation with Alibaba and Ant Financial, part of Alibaba, in areas including economic development, social governance and public services, especially in digital economy, smart services and e-commerce, news site people.com.cn reported on Friday.
The founder of Alibaba, Jack Ma Yun, said at the ceremony that Alibaba hopes to continue to join in Hainan's reform and opening-up and build the province into a digital port, and provide a digital economy to develop the free trade port.