The rendering of Ali Center in Hongqiao Central Business District

The e-commerce giant Alibaba will settle in Shanghai Hongqiao Central Business District, which another Chinese e-commerce company Vipshop chose this place for its financial headquarters and cross-border e-commerce headquarters, according to the management committee in responsibility.

Alibaba said in response that it is optimistic about the long-term development of this district. The district, close to Jiangsu and Zhejiang provinces, will drive the connection of the business in Shanghai and Hangzhou relying on the convenient transportation of Hongqiao. Meanwhile, the business area has world’s biggest convention center, National Exhibition and Convention Center and exhibitions will stimulate the development of business, warehousing, logistics and some other industries, in line with the companies’ business development needs.

The management committee of Hongqiao Central Business District, Alibaba, JD.com and Vipshop signed a strategic framework agreement on March 15. The head of the committee Zhao Jun said they aimed to build a global e-commerce platform which provides various services. The three e-commerce Chinese giants will accelerate the transformation to the offline mode to realize new growth points in the format through this platform.