Alibaba, Ant partner with home province Zhejiang to support China’s AI drive

Alibaba Group Holding and its fintech affiliate Ant Group, both founded by Jack Ma and based in Zhejiang’s capital Hangzhou, have entered into strategic partnerships with the provincial government to advance local economic development and artificial intelligence (AI) initiatives.

Provincial governor Liu Jie attended a signing ceremony in Hangzhou on Tuesday, along with Alibaba chairman Joe Tsai and Ant chairman Eric Jing Xiandong, according to a statement from the Zhejiang government. Lu Shan, deputy provincial governor, also signed separate agreements with Alibaba CEO Eddie Wu Yongming and Ant CEO Han Xinyi.

Alibaba and Ant will collaborate with the Zhejiang government in areas such as AI and support the implementation of key national strategies, according to the statement. While the specific strategies were not disclosed, Premier Li Qiang said earlier this month that China would promote an “AI Plus” initiative to enhance the application of large language models across various sectors.

The share price of Alibaba, owner of the South China Morning Post, rose 1.4 per cent in Hong Kong on Wednesday.

Alibaba and Ant are significant players in China’s AI landscape.