Alibaba ties up logistics web
By Ding Yining |
January 25, 2013, Friday
|
Print Edition
Print Edition
ALIBABA Group has teamed up with domestic retail giants and private companies to build a nationwide logistics network to tap the online spending boom and to plug the gap in offline ancillary infrastructure.
Alibaba and its partners plan to invest up to 100 billion yuan (US$16.1 billion) initially into the 10-year project, China Smart Logistics Network, the firm said yesterday. Other participants in the project include Fosun International, Yintai Holdings Co and logistics firms.
In the long run, Alibaba hopes to build a logistics network that can support the delivery and courier needs of up to 30 billion yuan worth of online sales per day. The network is also expected to boost the development of small vendors and other players in the e-commerce sector as they may lack the funds to build their own logistics network.
In recent years Alibaba's chairman Jack Ma has been raising the importance of logistics as booming online sales have heavily burdened offline supporting facilities, especially in inland cities where transport links are not so convenient.
Ma will be the chairman of the network and Shen Guojun from Yintai Holdings will become CEO.
Alibaba and its partners plan to invest up to 100 billion yuan (US$16.1 billion) initially into the 10-year project, China Smart Logistics Network, the firm said yesterday. Other participants in the project include Fosun International, Yintai Holdings Co and logistics firms.
In the long run, Alibaba hopes to build a logistics network that can support the delivery and courier needs of up to 30 billion yuan worth of online sales per day. The network is also expected to boost the development of small vendors and other players in the e-commerce sector as they may lack the funds to build their own logistics network.
In recent years Alibaba's chairman Jack Ma has been raising the importance of logistics as booming online sales have heavily burdened offline supporting facilities, especially in inland cities where transport links are not so convenient.
Ma will be the chairman of the network and Shen Guojun from Yintai Holdings will become CEO.
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