MADRID, July 16 (Xinhua) -- Cainiao Network, the logistics arm of Alibaba Group, and Russia-based AirBridgeCargo Airlines have jointly opened a new China-Europe air cargo route recently in an effort to enhance China-Europe trade cooperation.
The new route was scheduled to be operated three times a week from August this year.
According to data from Cainiao Network, the route is expected to improve the delivery time efficiency of merchandises from China to Europe by 30 percent.
In 2019, Alibaba raised its equity stake in the logistics subsidiary to about 63 percent from 51 percent.
Cainiao Network, established in 2013, has introduced the Internet of Things and smart supply chain solutions in the logistics sector, along with algorithms and technologies.
(Edited by Yang Yifan with Xinhua Silk Road, firstname.lastname@example.org)