Hotline: 1800 102 2007
Hotline: 1800 102 2007
Jun, 01 2018

Alibaba to inject 100 bn yuan for smart logistics

Executive Chairman of Alibaba group, Jack Ma made the announcement at the 2018 Global Smart Logistics Summit in Hangzhou, China.

Alibaba to inject 100 bn yuan for smart logistics

Chinese e-commerce giant Alibaba Group has announced its investment plan of over 100 billion yuan to build a smart logistics network, aimed at improving the company's efficiency and delivery reach to customers.

Executive Chairman of Alibaba group, Jack Ma made the announcement at the 2018 Global Smart Logistics Summit in Hangzhou, China.

The new network being planned will mainly focus on pushing a 24-hour product delivery across China and 72-hour delivery to the other countries, the company said in a statement.

Additionally, the smart network also aims to narrow down the logistics costs to less than 5 per cent and increase the profit margins for the manufacturing industry and logistics sector.

"This network is not only national but global. This is what we will work closely with our partners to achieve and bring benefits to all," said Ma.

Alibaba claims that its logistics affiliate, Cainiao Network has reduced cross-border shipping time to less than 10 days for some countries along with same-day and next-day deliveries within China and over 1,500 other counties and districts.

"Today, the industry can process 100 million packages a day. In the future, we will need to process one billion packages a day. The logistics industry needs to get prepared for that with a robust infrastructure," Ma added.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Others Health Care & Fitness
    Sanitisation Express is a noble initiative from the UClean family..
    Locations looking for expansion Haryana
    Establishment year 2020
    Franchising Launch Date 2020
    Investment size Rs. 2lac - 5lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • Others Food Service
    About Us: Tempteys is India's first dedicated Cold beverage cafe serving..
    Locations looking for expansion Delhi
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Waste Management Plants
    About Us: Pro India is engaged in bringing back used plastics..
    Locations looking for expansion Delhi
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 5000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: At DogSpa we love to spoil, treat and pamper..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2019
    Investment size Rs. 20lac - 30lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities