The Qingdao municipal government has signed a cooperative framework agreement with China's e-commerce giant Alibaba Group Holding to develop Qingdao as an e-commerce center in Shandong province and an e-commerce hub in North China, according to Qingdao Daily on June 1.

This cooperation will enhance Qingdao's progress in B2B cross-border e-commerce and help the city function as a service platform in the north.

Both sides will work together to help small-and-medium-sized as well as micro-sized companies with their foreign trade businesses, establish a credit guarantee system for e-commerce and promote online business talent training.

In particular, this cooperation will increase farmer's income by promoting e-commerce projects in rural areas.

Qingdao Mayor Zhang Xinqi and Vice President of Alibaba Group Yu Yong exchanged ideas before the signing ceremony.

Zhang hoped that this cooperation can enhance the industry transformation in Qingdao while maintaining development for Alibaba Group.