(Yicai Global) Feb. 11 -- Chinese e-commerce giant Alibaba Group Holding and its fintech affiliate Ant Financial Services Group have cut online sellers' fees and are subsidizing delivery services in a bid to ease the impact of the novel coronavirus epidemic on the country's economy.

Alibaba and Ant Financial's 20 measures include waiving Tmall merchants' service fees for the first half of this year, as well as offering zero-interest loans and more remote work opportunities, Xinhua News Agency reported yesterday.

The Hangzhou-based online retailer has set up two special task forces: one to fight the epidemic that has claimed more than 1,000 lives in China so far and one to offer counsel to Tmall sellers. 

MYBank, Ant Financial's online lending arm, has earmarked CNY10 billion (USD1.4 billion) for Hubei province-based Tmall and Taobao sellers, and will issue the money in 12-month loans. Eligible merchants can also receive payments for their services before the customer confirms a successful delivery to ease cash flow pressures.

Alibaba's logistics unit Cainiao Network Technology is trying to attract new clients by exempting those signed up before the end of next month from paying two months of warehousing fees.

Lifestyle services platform Koubei will not take a service commission till the end of this month, and that policy continues for another month after that for Wuhan-based merchants.

Editor: Emmi Laine