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China Shipping Network, Alibaba team up for online logistics platform
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China Shipping Network Technology Co shares surged the daily limit of 10 percent after it announced plans to build an online logistics information platform in cooperation with e-commerce giant Alibaba.
China Shipping Network's shares closed at 12.65 yuan (US$2.04).
Under the framework partnership with China Shipping Container Lines and Alibaba, the three parties will build an online logistics information platform to allow vendors or carriers to search for logistics quotations, complete orders online and check delivery status, according to a stock exchange filing today.
Shares of China Shipping Container Lines also gained 10 percent today to close at 2.46 yuan.
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