Alibaba, the mainland's largest e-commerce firm, said it would lead a group of mainland investors, including private equity firms and major express delivery firms, in investing 100 billion yuan (HK$124.6 billion) in the first phase of a logistics network.
Jack Ma Yun, who announced last week that he will step down as Alibaba's chief executive in May, will be chairman of the logistics venture.
via Business feed http://www.scmp.com/business/companies/article/1136274/alibaba-build-100-billion-yuan-logistics-network
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