Alibaba Signs Cooperation Agreement With Hangzhou Government

Chinese e-commerce giant Alibaba Group Holding Ltd. signed a strategic cooperation agreement with the government of Hangzhou, the eastern China city where the company is headquartered, local media reported Tuesday.

Liu Jie, the Communist Party chief of Hangzhou, said at the signing ceremony that Alibaba made an “irreplaceable” contribution to the city’s economic and social development and that the municipal government would “unswervingly” support Alibaba’s healthy development to become “a leader of innovative development” and “a model of regulated development,” the government-backed Zhejiang Daily reported.