(Yicai Global) June 30 -- Alibaba Group Holding, NetEase and China Mobile are among nine firms cooperating to set up an internet exchange point joint venture through which web service providers and content delivery networks can connect with each other and swap traffic.

With a registered capital of CNY100 million (USD14.14 million), the Zhejiang New Internet Exchange Center’s legal representative is Wang Ding who used to work for China Mobile’s Zhejiang province unit, according to corporate data platform Tianyancha.

The JV will offer data processing services, internet data services, computer hardware and software retail as well as auxiliary equipment, software development and information technology consulting services.

Core industries of the digital economy accounted for 10 percent of Zhejiang’s gross domestic product last year, amounting to CNY622.9 billion (USD88.08 billion).

The eastern coastal province will continue to support emerging industries such as cloud computing, Big Data, Internet of Things and artificial intelligence, said a director from its department of economics and information technology. It will also promote major projects such as internet exchange points, large green data centers and the fifth-generation mobile telecoms network.

Editor: Kim Taylor