Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Company

Alibaba to invest in STO express

March 11, 2019


Abstract : Chinese e-commerce powerhouse Alibaba has agreed to invest 4.66 billion yuan (about 693 million U.S. dollars) in exchange for about 14.6 percent equity stake in delivery company STO Express.

HANGZHOU, March 11 (Xinhua) -- Chinese e-commerce powerhouse Alibaba has agreed to invest 4.66 billion yuan (about 693 million U.S. dollars) in exchange for about 14.6 percent equity stake in delivery company STO Express.

According to a statement released by STO express on Monday, its controlling shareholder Shanghai Deyin Investment Holding Co. Ltd. will set up two new subsidiaries. Alibaba will invest 4.66 billion yuan and own 49 percent in one of the new subsidiaries. That subsidiary will own 29.9 percent stake in STO Express, and by extension, Alibaba will hold 14.6 percent.

The agreement, signed on Sunday, will see Alibaba and STO express deepen their collaboration in the transformation of China's logistics industry, in areas including logistics technology, last-mile pickup and delivery capabilities and new retail business-related deliveries.

In May last year, Alibaba's delivery arm, Cainiao Network said it would set up more global logistics bases to make its logistics network smarter and more efficient, ultimately aiming to be able to deliver anywhere in the world within 72 hours. In 2017, Alibaba Group also announced an investment of 100 billion yuan over five years to build a global logistics network.

Scan the QR code and push it to your mobile phone

Keyword: Alibaba STO-Express

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial