Hangzhou, 8th November: Last week, the Alibaba Group, the leading e-commerce company in China, announced that the company has increased its stake in Cainiao Smart Logistics Network Limited. The additional investment valued at RMB 23.2 billion (US$3.3 billion) increases Alibaba’s holding from 51% to 63%.

Cainiao, which focuses on technology-driven logistics and infrastructure services, has developed a range of robust international and cross-border fulfillment solutions to facilitate and support Alibaba’s international e-commerce business. Cainiao has also introduced IoT (Internet of Things) solutions and smart supply chain solutions designed to improve efficiency in the supply chain. According to the company, this additional investment will enable Cainiao to strengthen its smart logistics network and allow innovation in its business models, services and technological capabilities.