Wuzhou International in talks with Alibaba over possible co-operation
Wuzhou International eyes co-operation amid growing linkages with the e-commerce sector
Mainland trade centres and logistics property operator Wuzhou International is in talks with e-commerce powerhouse Alibaba for possible co-operation, founder and chairman Shu Cecheng told the South China Morning Post yesterday.
Linkages between the logistics and e-commerce sectors are growing rapidly.
Rival logistics operator China South City teamed up in June with another mainland e-commerce giant, Tencent, to enable co-operation across a range of areas.
Alibaba last year invested 2.15 billion yuan (HK$2.7 billion) for 43 per cent of China Smart Logistics Network. The venture, also known as Cainiao, was set up by Alibaba and its partners with plans to invest as much as 100 billion yuan over a number of years to develop a logistics operation that offers deliveries on the mainland within 24 hours.
"It was only a matter of time for co-operation between Alibaba and us," Shu said.
He and his brother Shu Cewan hold 73 per cent of Wuzhou, based in Wuxi, Jiangsu province. Alibaba was not immediately available for comment.