Rumor: Alibaba to Invest RMB 1 Bln in Henan Logistics Project

Beijing Business Today, 10/14/13

According to an insider at Chinese e-commerce conglomerate Alibaba Group, the company's smart logistics subsidiary Cainiao will spend at least RMB 1 bln on a logistics project in Zhengzhou, Henan province.

Alibaba CEO Jonathan Lu recently stated that the combined transaction volume of the company's online marketplaces will triple within the next 3 to 4 years, as compared to 2012 figures, reaching approximately RMB 3 trln (USD 490 bln), and surpassing Wal-Mart as the world's largest retail network.

Editor's Note: For more background on this topic, please see "Alibaba to Build Warehouses in Guangzhou, Shanghai, Tianjin" MD 4/14/13 issue.

Keywords: Jonathan Lu e-commerce Internet logistics Alibaba Group Cainiao

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