Alibaba: it will provide businesses with a temporary credit line of 10 billion yuan.

CTOnews.com, December 14, Alibaba posted that in response to the urgent needs of online and offline small and medium-sized businesses, industrial belt factories, and foreign trade enterprises for business recovery, Alibaba took the lead in launching four major actions to help them better grasp development opportunities, release growth potential, and enhance business confidence.

Among them, Taobao Tmall United Internet Merchants Bank, from December 2022 to February 2023, to eligible merchants to give ten billion yuan of temporary credit line support. For small and medium-sized enterprises that need to purchase production materials, Taobao provides 38-day interest-free credit with a maximum limit of 3 million yuan.

Speed up the cash flow of merchants. Eligible Taobao Tmall merchants can enjoy a 50% discount on the handling fee from December 12, 2022, Tmall merchants will be extended to January 31, 2023, and Taobao merchants will be extended to February 28, 2023. After the merchant delivers the goods, the qualified order can be repaid during the 0 account period.

Further reduce operating costs. From January 1 to February 28, 2023, some Taobao merchants enjoy a 20% discount on merchant freight insurance.