Chinese e-commerce players and logistics companies team up in building delivery network

Thu, May 30, 2013: Cainiao Network Technology Co. Ltd. has been formed by a group of e-commerce and logistics companies in China to create and manage a new developed nationwide logistics platform namely China Smart Logistic Network, to serve shipping for online shopping, Alizila reported.

Alibaba Group, retailer Yintai Group, Chinese conglomerate Fosun Group, S.F. Express Co., and four major Chinese courier companies: Shentong, Yuantong, Zhong Tong and Yunda are part of the consortium that plans to invest up to RMB 100 billion over the next 5 to 8 years to develop the platform.

Author: VSDaily Editor

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