Alibaba Group has said it will waive fees on its marketplace Tmall for the first half of 2020 and provide free services to merchants in Hubei, the centre of the coronavirus outbreak.
Its logistics arm, Cainiao, will waive warehouse rental fees before the end of March for Wuhan-based businesses. Its fintech arm, Ant Financial, will offer interest-free and low-interest loans to to sellers on ecommerce site Taobao and to Tmall merchants registered in Hubei. MYbank will provide one-year loans totalling Rmb10bn ($1.43bn) which will be interest free for three months, before rising to a reduced interest rate.
Couriers will receive “extra compensation” for their services as part of a Rmb1bn fund for supply chain and logistics services.
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