Shenzhen Development Bank Teamed up with Alibaba

Shenzhen Development Bank has teamed up with Chinese e-commerce firm Alibaba.com to strengthen cooperation on services to small and medium enterprises.

The Shenzhen-listed bank yesterday launched a credit to SME owners nationwide to smooth the credit supply to the group. The bank offers a maximum credit line of 15 million yuan (US$2.17 million) with a loan life up to 10 years.