The provincial government of Shanxi signs an agreement with Alibaba and Ant Financial Services on April 5. [Photo/gmw.cn]

China's Internet giant Alibaba and its affiliated company Ant Financial Services will partner with Shanxi to foster the province's economy and improve financial services for residents, according to an agreement between the parties signed on April 5.

Alibaba group will team up with Shanxi on developing big data, cloud computing and a Rural Taobao platform. Ant Financial Services will focus on promoting transport, e-government and medical payment services as well as offer financial aid to small and micro companies and rural areas.

With Ant Financial Services' support, Alibaba will establish 1,000 village sites for its Rural Taobao platform across Shanxi in 2017.

"I hope that the partnership with Shanxi will help the province improve internet services and infrastructure and advance economic transformation," said Jack Ma, chairman of Alibaba.

In the future, local residents will enjoy more convenience due to the partnership. More services, such as registering for medical treatment and tools for taking public transport, will be available with just a mobile phone.

Alibaba and Ant Financial Services have been supporting Shanxi's development and bettering people's lives in recent years.

Loans of 2.77 billion yuan ($402 million) have been lent to 47,000 small and micro businesses in the province. In 2016, More than 5 million Shanxi residents received 30 kinds of public services covering medical care, government affairs and transport through Alipay, a payment app operated by Ant Financial Services.