Chinese commercial enterprise Suning Holdings Group and German software giant SAP SE have signed an agreement to develop technological solutions for China's retail, financial and sports industries.
The agreement between the two companies will focus on conducting research in artificial intelligence (AI), Internet of Things (IoT), Big Data, cloud computing and blockchain technologies in relation to the development of retail innovations.
Suning chairman Zhang Jindong said: "Suning's partnership with SAP, with whom we have built a long-term cooperation, will provide a new opportunity for both sides to share and innovatively use the resource and data accumulated in retail and corporate management fields.
"We look forward to working closely together on the establishment of smart retail and smart logistics services platforms to boost the revolutionary development of the retail industry," he added.
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The collaboration will attempt to strengthen the retail sector in China through the establishment of a platform of ecological services comprising of SME supply chain solutions including product supply, logistics and payment services.
A data-driven NTOCC platform will be created to establish intelligent and delivery systems to improve operational efficiency and user experience of the logistics sector. Additionally, a digitized platform for Chinese football clubs, and youth training systems will be established to promote and support the development of sports in China.