Caixin
Nov 03, 2020 07:54 PM
BUSINESS & TECH

Alibaba Set to Open Central China Headquarters in Wuhan

What’s new: Alibaba Group Holding Ltd. is set to break ground on its third headquarters — what it is calling its “central China base” — in the city of Wuhan. It expects construction to be finished by 2026, according to a statement on Monday.

The six-year project, with an expected footprint of 300,000 square meters, is backed by the municipal government of Wuhan, and will be located in Wuchang district. “It has been a year of consideration and negotiation between Wuchang officials and relevant departments,” the district’s commerce bureau said in October.

Ying Yong, the secretary of Hubei’s provincial party committee, said he hopes the new headquarters will increase Alibaba’s efforts in Hubei to upgrade the digital infrastructure, new retail businesses and digital governance technology.

More details: Alibaba originally started in Hubei with 100 million yuan ($14.9 million) in registered capital. The new Hubei facility seems to be the latest development in Alibaba establishing bases across the country.

Last year, the company started work on a second site in Zhongguancun in Beijing, which it expects to finish in 2024 with a total investment of 6.4 billion yuan.

In October, Alibaba and its affiliated Ant Group Co. Ltd. signed an agreement to open offices in Shanghai to oversee Ant Group’s fintech unit Alipay, retail store brand Hema, and food delivery service Eleme Inc. 

Contact editor Marcus Ryder (marcusryder@caixin.com)

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