17 September 2019

Alibaba venture fast-tracking data network expansion, paper says

Cainiao Network Technology Co. Ltd., a new joint venture formed by Alibaba in partnership with eight e-retailers and leading courier services, has fast-tracked its data network construction nationwide over the last eight months, the Shenzhen Economic Daily reported Wednesday. The company, based in Shenzhen’s Qianhai special financial zone since May 2013, on Tuesday launched a 1 billion yuan (US$165.187 million) backbone network center in Shenzhen, with city mayor Xu Qin {許勤} attending the ceremony. With former Alibaba chief executive Jack Ma as president, Cainiao is also set to operate China Smart Logistics Network, a national courier service, the report said.

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