Latest Alibaba news is regarding the Chinese e-commerce giant is deciding to help Sinopec related to big data and cloud computing. The details are that Sinopec is the biggest oil refiner in Asia and therefore the e-commerce giant shall help it with services regarding cloud computing and the big data analytics. The company announced it via microblog that e-commerce titan shall collaborate with the oil refinery giant in order for providing technical services. The China Petroleum and Chemical Corporation or Sinopec did not disclose the money that was involved in the deal.
Cooperation between the private enterprise’s poster child, Alibaba and the state owned one of the biggest companies merges with government policy.
Other behemoths and Sinopec are under pressure in order for the information technology to be utilized in a better way and also to take advantage of the big data and cloud computing so they are able to track the essential things like demand, supply and emissions.
Alibaba is a company who has made the biggest record in New York with initial public offering of $25 billion. Alibaba news reports that the Chinese e-commerce titan has been trying to come at good terms with the government to furnace the agreements regarding cloud computing and other numerous government bodies or the ones run by the state.
The director of cloud computing business Aliyun which comes under Alibaba Group Holding Ltd, Allen Zhang said that “by helping Sinopec with digitization and big data technologies, we hope we can play a part to help bring about greener solutions and new business opportunities.” The statement was said in an email confirming the collaboration.
The oil refinery giant expressed that the alliance between Sinopec and Aliyun is aimed to help improvise few of the oil companies and their traditional service regarding petrochemical.
Aliyun has decided to help the oil refinery giant, Sinopec develop business systems that are cloud based and also to perform data analytics which shall cover the entire chain of petrochemical production.
The two giants from different businesses are said to take the collaboration to another level by aiming for Internet of Things, finance, vehicle networking and online payments, online to offline commerce and etc.
Aliyun has 23 percent of market share in China and is considered to be the biggest service provider when it comes to cloud computing.
The deal seems to have a lot of weightage because Alibaba is trying to monetize and also to make its global position firm with the passage of time and Sinopec on the other hand is exploring new horizons.