Work has begun on the first station in the Spring Thunder Initiative launched by Alibaba Group in cooperation with Yuhang district in Hangzhou, capital of East China's Zhejiang province. Alibaba held a ceremony to mark the launch of the initiative in the district on April 18.

Alibaba announced that it will restart the initiative on April 7 in order to provide a boost to small and medium-sized enterprises who have been hit hardest by the novel coronavirus.

The initiative aims to "help SMEs weather the economic winter" by providing support related to customer acquisition, digitalization, financing, and more, according to company chairman and CEO Daniel Zhang, who recognizes SMEs as the "lifeblood of the economy".

The initiative debuted in 2009 in response to the global financial crisis.

"We will deploy the power of commerce and technology that Alibaba has harnessed over the past twenty years to create new supply chains, stimulate new demand, and promote new trade through a series of aggressive measures," Zhang said.

As part of the Spring Thunder Initiative, Yuhang district has launched 10 new measures in cooperation with Alibaba. The 10 measures involve the digitalization of foreign trade, encouraging companies to use Taobao live-streaming services, e-commerce development in rural areas, and reducing expense for companies.

Chen Xialin, executive deputy head of Yuhang district, said that the government will offer 200 million yuan ($28.27 million) in subsidies to support the growth of small and medium-sized companies in the district.

He expressed hope that Yuhang would become a model for how to properly carry out the Spring Thunder Initiative.

According to Dai Shan, president of Alibaba's B2B Business Group, the company will utilize its domestic trade platforms such as Tmall and Taobao to sell foreign products, help small and medium-sized companies in Yuhang expand into international markets, help build up Yuhang brands, and give Yuhang companies a chance to establish a presence on Tmall and Taobao.