According to reports in Chinese local media, CITIC Group recently reached a comprehensive strategic cooperation agreement with Alibaba Group and Ant Group.

The three parties will fully integrate their advantageous resources to upgrade business cooperation. Taking Internet technology innovation as an opportunity, they will create new development momentum and jointly build a new ecosystem of inclusive finance and industrial Internet cooperation featuring "symbiosis, sharing, equality, and openness".

Under the agreement, on the basis of the current cooperation, the three parties will realize cooperation upgrade in various sectors, including comprehensive financing services, cash management and asset management services, inclusive financial services, personal digital financial expansion, digital infrastructure construction, customer membership operations, industry, and medical and health.

In the field of financial technology, they plan to establish a long-term partnership in R&D and application, jointly implement scientific and technological innovation research, and strengthen exchanges and cooperation in business digitalization and financial product innovation.

With the strategic cooperation, they will realize real-time seamless connection of scenarios and financial services. In addition, they will jointly build an intelligent marketing, product, service, and risk control system, build a digital financial technology ecosystem, and achieve user sharing and business win-win.