Logistic centers
By Cathy Ding |
October 21, 2010, Thursday
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Print Edition
Print Edition
E-COMMERCE giant Alibaba Group is expected to build logistics operation centers in 52 cities in China in the next two years to meet the growing demand of small and medium online merchants and to speed up development in second and third tier cities, an unidentified source close to the matter said.
"Alibaba Group is considering partnering with logistics companies or build these centers on its own," the source said.
The source also indicates that the Alibaba management team is taking a very patient, long-term approach and not just look at near-term profitability.
Alibaba Group has bought 13.5 million shares, or 0.3 percent stake, of Global Logistics Properties, the logistics unit of Singapore's sovereign wealth fund, Government of Singapore Investment Corp, which completed its IPO in the city-state on Monday.
"Alibaba Group is considering partnering with logistics companies or build these centers on its own," the source said.
The source also indicates that the Alibaba management team is taking a very patient, long-term approach and not just look at near-term profitability.
Alibaba Group has bought 13.5 million shares, or 0.3 percent stake, of Global Logistics Properties, the logistics unit of Singapore's sovereign wealth fund, Government of Singapore Investment Corp, which completed its IPO in the city-state on Monday.
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