E-commerce giant Alibaba Group has partnered with financial institutions Yintai Holdings, Fosun Group, Forchn Holdings and five major delivery companies to develop a massive logistics network.
The partners invested a total of 5 billion yuan to set up the Rookie Network, which will lead the ambitious China Smart Logistics Network project.
Alibaba chairman Jack Ma was named chairman of Rookie Network, while Shen Guojun, chairman and president of Yintai, will be the CEO.
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Wang Shanshan via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/K-r-9T1ULco/
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