Alibaba invests $15 billion to boost logistics

With the aim of creating the most efficient logistics network in China and worldwide, Alibaba has announced investments of 100 billion yuan ($15 billion) over the next five years and an increase in its share of the Chinese logistics group Cainiao from the current 47% to 51%.

The e-commerce giant’s specific goal is to deliver goods anywhere in China within 24 hours of the order and within 72 hours to the rest of the world.

The acquisition of a majority shareholding in Cainiao (57 million deliveries per day) is due to be completed by the end of next month.