Alibaba delivery unit to set up network of hubs across China
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Shanghai
ALIBABA Group Holding Ltd's delivery arm is establishing a Chinese network of unprecedented scale, even as it expands warehousing in the US and elsewhere to propel the e-commerce operator's global ambitions.
Zhejiang Cainiao Supply Chain Management Co, of which Alibaba owns 48 per cent, is angling towards a future initial public offering (IPO) to help bankroll that expansion, president Judy Tong said last Friday in Hangzhou.
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