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China’s Alibaba ties up logistics web

China’s 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 CNY100 billion (USD16.1b) initially into the 10-year project, China Smart Logistics Network, the firm said on Thursday. In the long run, Alibaba hopes to build a logistics network that can support the delivery and courier needs of up to CNY30b worth of online sales per day.

(Source: Shanghai Daily)