In order to strengthen the capabilities of its partner ecosystem and increase its share of the global cloud market, Alibaba Cloud has invested $1 billion in funding. The third-largest public cloud provider in the world at the moment is Alibaba Cloud.

This investment consists of both financial and non-financial incentives, such as funding, rebates and go-to-market initiatives, the company said in a statement.

"With more enterprises moving to the cloud and an increase in demand for cloud services in a hybrid environment, Alibaba Cloud has made available globally a series of its proven infrastructure products, a multi-model cloud-native database and distributed cloud services," it added.

With its revamped ecosystem strategy, Alibaba Cloud said the it is committed to investing $1 billion to support partners' technology innovation and their market expansion with Alibaba Cloud in the coming three fiscal years.

To accelerate partners' growth, Alibaba Cloud also launched a "Regional Accelerator" programme to provide partners operating in different markets with a localised business collaboration model.

Alibaba Cloud ecosystem partners including resellers, technology partners (ISV, SaaS and SI), service and consulting partners can benefit from the program.

"Partners have always been a key focus for Alibaba Cloud, and we are committed to providing them with strong support for our ongoing co-creation and value-add - both technologically and commercially - to further empower our joined customers," said Selina Yuan, Alibaba Cloud Intelligence International President.

"Our revamped partner strategy prioritizes our partners' growth. By continuing to support our partners' business expansion, we can build an inclusive ecosystem benefiting partners and customers," Yuan added.