(Yicai Global) Sept. 4 -- China's State Administration for Industry and Commerce (SAIC) and the government of the southeastern economic hub of Zhejiang province have signed a strategic cooperation agreement to set up a platform for supervision of the online economy and promote its healthy development.

China's e-commerce colossus Alibaba Group Holding Ltd. [NYSE:BABA] is headquartered in Hangzhou, Zhejiang. Alibaba has two e-commerce platforms, including Tmall and Taobao.

Their ranks of registered merchants now exceed 11 million. The number of online-consumer complaints and reports received by Zhejiang province reached 165,000 last year, for 60% of China's total, China News Service reported on Sept. 2. Faced with the huge task of supervising the online economy, the SAIC and Zhejiang Government will jointly set up a national e-commerce testing center, develop a trans-regional supervision mechanism and trans-regional enforcement mechanism and take serious online and offline actions against counterfeiting and pyramid selling.

Big Data is also the focus of this cooperation. Zhejiang will build an e-commerce entity database and credit library and create identity files about merchants to compare the subjects of network transactions in real time and improve the efficiency of supervision. The SAIC will build a trademark database to offer data support for the province in protecting intellectual property rights online and doing more in a network crackdown on counterfeiting.