A girl stands in front of Alibaba Group Holding Ltd headquarters in Hangzhou, Zhejiang province, in May 2021. [Photo/Agencies]

Hangzhou in East China's Zhejiang province signed a comprehensive, deepened strategic cooperation agreement with Alibaba Group on Jan 10, signaling support for the platform economy's growth in a healthy and regulated manner.

Specific measures to support the standardized and healthy development of the platform economy have been drawn up.

Alibaba is a Fortune 500 company based in Hangzhou. In 2013, the city and Alibaba signed a strategic cooperation agreement, leading to in-depth cooperation between a city and enterprise.

Liu Jie, Party secretary of Hangzhou, made a visit to Ant Group, Alibaba's fintech affiliate, on the morning of Jan 9.

During the visit, Liu encouraged the company to seize opportunities, take advantage of the situation, maintain a good direction, strengthen innovation, continue to enhance the core competitiveness of enterprises, and strive to promote the development of digital trade.

Chinese authorities have signaled stronger unswerving support for the private sector and online platforms in recent days, asking firms to pay attention to both development and regulation, after a key economic meeting encouraged the private sector and digital economy platforms to "fully display their talent" in leading development, creating jobs and competing internationally last year.

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