Alibaba Group to invest $807m in Cainiao Smart Logistics Network.

Alibaba Group Holding has agreed to invest RMB5.3bn ($807m) in Cainiao Smart Logistics Network, the logistics affiliate of Alibaba. Investment is expected to enhance the overall logistics experience for consumers and merchants across the Alibaba ecosystem, as well as to enable greater efficiencies and lower costs in China's logistics sector. "By enhancing the logistics capabilities within the Alibaba ecosystem and extending our investment in this sector, we are further enabling our New Retail strategy to bring online and offline retail into one seamless experience for shoppers. We will also continue to deepen our collaboration with various logistics partners to achieve this goal." Daniel Zhang, Alibaba Group CEO.