Alibaba seeks growth in Mongolia with new e-commerce platform selling Chinese goods from wholesale marketplace 1688.com

The new online marketplace, ShoppyHub.mn, aims to offer “millions of products” sourced from 1688.com’s merchant network, providing Mongolian consumers and business clients with products from Chinese manufacturers, Intelmind said in a statement on Wednesday announcing the strategic partnership.

The site will allow online shoppers in Mongolia to consolidate purchases from other regions into a single order and delivery, with most packages reaching customers in seven to 10 days, according to Intelmind.

Meanwhile, the Hangzhou-based giant is also expanding its overseas e-commerce operations to seek new customers amid weak consumer sentiment at home.

Mongolia, known for its vast mineral resources such as coal, copper and gold, is seeking to diversify its economy in recent years. Part of the initiative involves enhancing digital infrastructure and connectivity, with e-commerce emerging as a key driver.

The country of 3.4 million people relies on China for investments, while China sees Mongolia as a connector for trade with Central Asia.

Intelmind’s new platform, which strives to facilitate cross-border trade opportunities, “underscores our dedication to driving innovation and fostering economic prosperity in Mongolia”, said company co-founder and CEO Mendbayar Tseveen.

Ulaanbaatar-headquartered Intelmind, which owns or invests in a portfolio of 18 tech companies, in 2017 launched its own online marketplace Shoppy.mn. It has since become one of the major e-commerce platforms in the country.