The French government has signed an agreement with Chinese Alibaba to boost French web shops in China, as these will now get quicker access to Alibaba's services.
French Minister of Foreign Affairs, Laurent Fabius, has signed a three-year deal with Alibaba which enables French web shops to go through a faster registration process at tmall.com, Alibaba's platform. They will also receive additional service and marketing support, which has already kicked in with a promotional campaign about French companies in China.
The Chinese online market grew 120 % between 2003 and 2011, but whoever seeks quick Chinese growth nowadays needs Alibaba's support as the company has 231 million active users and therefore controls Chinese online market.
Alibaba's worth is considered to be 120 billion euro and the company has filed a request to enter the New York stock exchange, where it may become the largest technological IPO ever.