BEIJING, Oct. 11 (Xinhua) -- Alibaba Group recently announced that it would invest 100 billion yuan over the next five years and increase the shareholding in its delivery arm Cainiao to advance its new retail strategy, marking that Alibaba is rapidly building a global logistics network.
Alibaba will invest 5.3 billion yuan this time under the agreement to boost its equity in Cainiao from 47 percent to 51 percent.
Referring to the future investment of 100 billion yuan, Alibaba said that it will continue to invest into data technology R&D and other fields over the next five years, and closely collaborate with its logistics partners on smart warehousing, intelligent distribution, global super logistics hubs and other core fields in a bid to build the new logistics industry that serves new retails.
With the prosperity of the dominant e-commerce businesses, the proportion of total social logistics cost in China's GDP has decreased from 18 percent in 2013 to 14.9 percent in 2016. (Edited by Yang Yifan, yangyifan@xinahua.org)
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