Alibaba, China Mobile announce development partnership

Markets Associated Press

Chinese e-commerce giant Alibaba and the country's biggest phone carrier, China Mobile, have announced a partnership aimed at developing internet-related services.

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The agreement announced Wednesday adds to a flurry of efforts by Chinese internet and telecoms companies to keep up as web users shift rapidly to going online via mobile phones and tablets.

Alibaba and China Mobile said they would work together on information infrastructure, marketing and new technologies.

China has 710 million internet users, more than 90 percent of whom use wireless devices to go online, according to government data.

Traditional internet companies such as Alibaba are rushing to develop wireless services to hold onto customers, while telecoms companies are looking for ways to reap bigger revenues from the boom.