Cainiao announces $154m investment to strengthen logistics alliance
Cainiao Network, Alibaba’s logistics affiliate, has announced a preliminary investment of 1 bn yuan ($154m) to boost the capacity of its delivery partners. Cainiao CEO Tong Wenhong said that, within five to eight years, Cainiao’s delivery partners will have the capacity to deliver 100bn parcels annually.
In 2015, Chinese e-commerce generated 20.6bn parcels, up from 860ma decade earlier, said Tong.
Cainiao was jointly established in 2013 by Alibaba and three leading domestic express delivery firms: SF Express Co, STO Express and Shanghai YTO Express.
The alliance has more than 128 warehouses nationwide, and it can help its delivery partners offer same-day service in 12 cities around the country.
