Tie-up with Alibaba lifts shipper
Print Edition
CHINA Shipping Network Technology Co surged by the daily limit of 10 percent after it unveiled a partnership with e-commerce giant Alibaba to build an online logistics information platform.
The tie-up, which also includes China Shipping Container Lines, will enable the three partners to build an online logistics information platform to allow vendors or carriers to search for logistics quotations, complete orders online and check delivery status, a stock exchange filing said yesterday.
China Shipping Network and China Shipping Container Lines are subsidiaries of parent China Shipping (Group) Co, which sees the tie-up as strategic for it to combine the traditional shipping business with e-commerce, according to the filing
China Shipping Network and China Shipping Container Line both surged by the 10 percent daily limit to 12.65 yuan (US$2.04) and 2.46 yuan.
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