(Yicai Global) Nov. 16 -- Alibaba Group Holding Ltd. [NYSE:BABA] has formed a working group committed to investing in its eWTP (Electronic World Trade Platform) ecosystem and expand it worldwide, Daniel Zhang (Zhang Yong), chief executive of Alibaba Group, said recently in an internal letter.
Yu Yongfu will step down as chairman of Alibaba Digital Media & Entertainment Group to head up the new group from Dec. 1, online media outlet TechWeb reported. Yu will devote himself to leading strategic investment in the eWTP ecosystem, Zhang said in the letter.
Alibaba founder Jack Ma proposed the Electronic World Trade Platform last year. He hopes to see entrepreneurs able to do business around the world using just their mobile phone in the future.
On Nov. 3, Alibaba put its first eWTP pilot program into full operation at the Digital Free Trade Zone in Malaysia. The program provides a series of supply chain facilities and business services in logistics, warehousing, trading and finance for Malaysia's small- to medium-sized enterprises to carry out cross-border trade, Hong Kong-based South China Morning Post reported.