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Online shopping firm Alibaba.com has teamed up with China Construction Bank to offer loans to its online vendors to stimulate business throughput on its consumer-to-consumer website, the Shanghai Business Journal reported. Private sellers with qualified credit records can apply for short-term loans up to US$13,819 (RMB100,000) at 8.21% per annum to source new products. The loan is only available to vendors who have struck a deal but not yet received payment. They must be users of the Alipay system, which will not send buyers’ money to sellers’ bank accounts until buyers confirm they have received the goods and are satisfied with the quality. The vendors of Alibaba’s subsidiary Taobao.com, China’s most popular consumer-to-consumer website, use personal income to source 80% of their products.

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