While the backing for Alibaba came from a provincial, not national, government, a separate statement Wednesday showed that a national regulator backed Zhejiang in taking the lead in trials for platform-economy innovation. That deal was signed between the State Administration for Market Regulation and Zhejiang.
China’s tech giant Alibaba Group Holding Ltd. aims to work with its home province, one of the nation’s wealthiest, to develop artificial intelligence (AI) and the digital economy.
Zhejiang, a province on China’s eastern seaboard, entered a cooperation agreement with Alibaba, vowing to create a better business environment for platform-economy firms and to encourage innovations in areas including artificial intelligence, according to a report of Securities Times on Wednesday.
