(Yicai Global) March 20 --  China's tech behemoth Alibaba Group Holding and information security  firm Aisino will join hands to develop cloud computing, electronic  invoice and credit services. 

The pair penned a  framework agreement of strategic cooperation, under which they will set  up a blockchain technology lab to create cloud computing solutions for  clients, Beijing-based Aisino said in a statement yesterday.

The partnership draws on  both of the firm's strengths. Alibaba has advantages in cloud systems,  data intelligence, the Internet of Things, and edge computing, while  Aisino and its subsidiaries are strong in terms of their hardware supply  chain and services, the statement added. 

The pair will integrate  their customer bases to tap the market of online governance and develop  fiscal and invoice management systems for small and mid-sized firms.  They will also create a new business model for customers to provide  credit services, Aisino added.  

Editor: Emmi Laine