Case | Transaction obstacle | Core governance measures | Governance effects |
A-B subcase | CTCa | ILTPs# In May 2003,Taobao Marketplace was founded, at the same time it announced the free entry policy In October 2005, additional 3-year free entry policy was announced | Effectively repelled competitors and attracted many businesses (sellers) |
C-B subcase | TSCb | IICISs† In October 2003, Alipay service was launched and then inclusive credit intermediary service was introduced into China In December 2004, Alipay was spun off from taobao.com and operated independently In February 2005, Alipay was upgraded with a “full compensation” system | Greatly dispelled the worry of wait-and-see buyers and attracted them successfully |
B*-C* subcase | IATCLc | PMDDTSs‡ (include assisting purchase and assisting sale) In March 2002, “chengxin tong” (credit certificate)was launched for sellers and buyers in China In June 2008, “chengxin tong” (credit certificate)for individuals was launched In November 2003, Tradelink was launched to allow buyers and sellers to communicate in real time through the Internet In July 2004, Aliwangwang, a PC version of communication software that allows buyers and sellers to communicate with each other by instant text, voice and video was released In November 2007, Ali mom, an online marketing technology platform was established In October 2007, Alibaba Finance successfully lent the first online guaranteed loan In August 2009, “Ali loan” was expanded with China construction bank in zhejiang and Shanghai In September 2009, Aliyun was founded In December 2009, the acquisition of China wanwang, strengthening Ali E-commerce’s ability to provide additional Internet infrastructure services to domestic small businesses was completed | Effectively provided comprehensive assistance for buyers and sellers, helping them to gradually overcome information asymmetry obstacles and trading condition limit, and then promoted the formation of online trading habits in China |