Translator：Zhang Xiaotong

On September 21, Alibaba's asset strategies and Shanghai Landing Law Offices signed a strategic cooperation agreement in Wuhan. This agreement sets the stage for a close collaboration in Wuhan's urban renewal and asset restructuring, powered by Alibaba's extensive data resources.

The event was attended by representatives from Wuhan Urban Investment Group, Wuhan Agricultural Group, Wuhan Big Data Group, and other related leaders. These representatives expressed their strong intentions to introduce Alibaba's asset services in Wuhan. In attendance were also Zhang Yaqing, a member of the Wuhan Municipal Committee of the Chinese People's Political Consultative Conference (CPPCC) and Deputy Director of the Economic Special Committee of the Municipal Committee of the China Democratic National Construction Association (CDNCA). Additionally, Jiang Tiancui, Director of Alibaba's Asset Restructuring Business, and Zhao Xiangfeng, Regional Director, actively participated in the discussions.

Taobao Network is the judicial auction network service provider included in the Supreme People's Court's reference price and one of the service providers for the Supreme People's Court's reference price. Alibaba's asset arm is a trusted asset transaction service provider under Alibaba's Taobao Network. Their goal is to create a unified national marketplace by building digital capabilities for asset disposal and establishing an internet service ecosystem for China's asset trading industry. Alibaba's assets serve 3,500 courts, 1,500 government agencies, and 300 million investors each year. Since the implementation of online judicial auctions in 2012, it has been running stably for over a decade, contributing to transparent law enforcement and digital justice.

Alibaba's asset arm extensively employs Alibaba's computational power, cloud computing, and mature digital tools for services such as exploring asset value, evaluating a company's debt capacity, identifying restructuring values, assessing small and micro-enterprise valuations, industrial analysis, and precise matching of industry investors. They leverage Taobao Network's extensive traffic and work platforms for Software as a Service (SAAS) and Data intelligence as a Service (DAAS) to assist in debtors' asset management, collaborative work among multiple roles online, online creditor meetings, recruiting restructuring investors, and investor selection through bidding. This deep exploration of the value of restructured companies and assets supports the revitalization of urban existing assets and promotes high-quality regional economic development. The strategic cooperation involves core elements of Alibaba's asset's support for urban renewal, such as compiling and sorting enterprise and asset big data, regional industrial planning big data profiles, efficient open transactions of existing assets, digital inquiries and valuations of assets, equities, and debts, precise integration of production factors' big data, empowering urban infrastructure public data elements and application scenarios, and digitally empowering urban infrastructure.

Shanghai Landing Law Offices is an innovative law firm that actively embraces the digital economy while pursuing absolute professionalism. With a global perspective and the use of legal and business intelligence, as well as internet big data technology, they have engaged in substantial practical explorations with a win-win mindset. Prior to this, the law firm had initiated trial collaborations with various advanced asset transaction and management organizations, including Alibaba's asset arm. Driven by the call to build a unified national marketplace, stimulate fair market competition, and promote the growth of the private economy, Shanghai Landing Law Offices has made significant achievements in areas such as state-owned asset disposal, differential investment attraction for the government, restructuring of cultural and tourism assets, land and forest mining rights, and local characteristic asset financing.