e-Commerce Group, Alibaba, plans to build a network of warehouses across China and hopes to mobilise other partners to join in this effort to create an integrated logistics platform that will help elevate the quality of service to Chinese consumers and allow merchants to meet rapidly growing domestic consumption needs.
In the medium-term, Alibaba and its financing partners will commit between RMB20 billion and RMB30 billion (US$3.01bn to US$4.52bn), and Alibaba hopes to spark a total investment of more than RMB100 billion (US$15.05bn) in logistics development in China by others partners in the e-commerce eco-system.
"It's clear that logistics is a crucial link in the e-commerce eco-system and in order for Chinese entrepreneurs to reach their future growth goals, this sector needs to develop rapidly in China," said Jack Ma, chairman & CEO of Alibaba Group.
In the medium-term, Alibaba and its financing partners will commit between RMB20 billion and RMB30 billion (US$3.01bn to US$4.52bn), and Alibaba hopes to spark a total investment of more than RMB100 billion (US$15.05bn) in logistics development in China by others partners in the e-commerce eco-system.
"It's clear that logistics is a crucial link in the e-commerce eco-system and in order for Chinese entrepreneurs to reach their future growth goals, this sector needs to develop rapidly in China," said Jack Ma, chairman & CEO of Alibaba Group.