Alibaba helps build chemical procurement platform

A new e-commercial platform to promote the chemical on-line purchasing sector was launched in Yantai, East China's Shandong province recently, according to local media.

The platform was jointly built by Wanhua Chemical Group, a polyurethane manufacturing company in Yantai and the Chinese e-commerce giant Alibaba.

Wanhua signed a cooperative agreement with Alibaba at the end of 2017, through which Alibaba has provided technical support to help Wanhua to design and develop the cloud purchasing platform.

Wanhua Chemical Group has in recent years risen to prominence in the global MDI – methylene diphenyl disocyanate market. It ranks 3rd place in the list of National Top 100 Innovative Enterprises. The company plans to realize sales revenue of over 150 billion and enter the global top 10 companies in the chemical industry in thenext five years.

To date, via the platform, Wanhua has realized a total of 740 million online transactions and has around 500 online suppliers.

Wanhua Chemical Group in Yantai. [Photo provided to chinadaily.com.cn]