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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Softbank, Alibaba announce new B2B service AFP - Wednesday, November 12 TOKYO (AFP) - - Japanese Internet giant Softbank and Chinese e-commerce firm Alibaba said Tuesday they would launch a business-to-business service to link Japanese firms with potential customers in China. Alibaba chief executive Jack Ma said at a joint press conference with Softbank president Masayoshi Son that China, which now serves as a global production hub, promised to be a huge consumer market in a decade. "This is a really important strategic movement," he said. Alibaba already brings together some 50,000 suppliers in China with wholesale buyers in Japan. The new service is aimed at providing Japanese goods to Chinese wholesalers. "I think the potential is big," Ma said. The service will initially ask its customers to use existing financial and legal transaction systems when importing goods and to file the necessary documents with authorities, Son said. "We are trying to build a new system so that financial and legal transactions can be made online," Son said. Ma said he also wished to create a system in the near future to allow Chinese consumers to purchase Japanese goods through a new e-commerce scheme. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Internet Portals & Search Engines Republicans turn to Web for help in rebuilding partyAFP - Wednesday, November 12 Softbank, Alibaba announce new B2B serviceAFP - Wednesday, November 12 Intel dives into medical market with home health monitorsAFP - Tuesday, November 11 Obama to preside over White House 2.0AFP - Sunday, November 9 Related Articles: Technology Softbank, Alibaba announce new B2B serviceAFP - Wednesday, November 12 Intel dives into medical market with home health monitorsAFP - Tuesday, November 11 Ubisoft buys Massive Entertainment videogame studioAFP - Tuesday, November 11 Obama to preside over White House 2.0AFP - Sunday, November 9 Obama will take to Internet as Roosevelt took to radioAFP - Sunday, November 9 Enlarge Photo R-L: Jack Ma, Chairman and CEO, Alibaba Group, answers questions while Masayoshi Son, head of Japan's Softbank Group, and Alibaba Japan President Makoto Koyama listen during a press conference at a Tokyo hotel. Japanese Internet giant Softbank and Chinese e-commerce firm Alibaba said Tuesday they would launch a business-to-business service to link Japanese firms with potential customers in China. Related Photos Slideshow Full Photo Coverage: Internet Portals & Search Engines Related Full Coverage Internet Portals & Search Engines Latest development in the online world All Full Coverage Most Popular – Technology Viewed Britney Spears's son hospitalized: statement US expands record bailout of insurance giant AIG In Obama's victory, Americans see legacy of Lincoln Obama, Bush discuss world of challenges Swiss fear more pressure on bank secrecy after Obama victory View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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