Alibaba CEO Daniel Zhang said ZTO had been an important partner in developing the new digital economy
Alibaba CEO Daniel Zhang said ZTO had been an important partner in developing the new digital economy

Alibaba spends $1.38bn to boost logistics

30 May 2018

Alibaba Group has bought a 10% stake in Chinese delivery company ZTO Express in a bid to improve its global logistics capabilities.

The $1.38bn purchase was made by Cainiao, Alibaba’s parcel tracking subsidiary. It aims to bolster the company’s first- and last-mile pickup and delivery capabilities, warehouse management, cross-border logistics and technological solutions by increasing collaboration between Cainiao and ZTO.

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