Alibaba Tries Team Approach in Bid to Build Logistics Network
(Beijing) – After years of trying to address its logistics problems, Alibaba Group has changed its game plan. In late May, the e-commerce giant and a group of partners announced they were establishing a company to build their own logistics network to cover the entire country.
With registered capital of 5 billion yuan, the Cainiao, or Rookie, Network was set up in Shenzhen by Alibaba, Yintai Holdings, Fosun Group, Forchn Holdings and five major delivery companies.
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