Chinese e-commerce behemoth Alibaba Group Holding Limited is taking a minority stake in a Chinese logistics and courier company.
Alibaba made an undisclosed investment in Shanghai YTO Express (Logistics) Co., Ltd, one of China's leading logistics companies. Both companies will cooperate in developing optimal logistics solutions for China in order to raise operational efficiency in the industry.
YTO Express is one of 14 logistics partners that work closely with Cainiao, the logistics affiliate of Alibaba Group. Cainiao and YTO Express will work together to enhance the industry's logistics management capabilities and international and rural delivery services. This will in turn raise the bar on service quality and user experience for merchants, consumers and logistics companies.
Cainiao was founded by Alibaba Group in May 2013 in partnership with a consortium of logistics companies. Cainiao aims to build a nationwide logistics platform that connects delivery companies, warehouses and distribution centers together in order to enable higher efficiency in China's logistics industry and a better customer and merchant experience.