Alibaba, Haier form logistics joint venture
Alibaba Group Holding Ltd and home appliance maker Haier Group will form a joint venture to build a logistics and service network to deliver household appliances and other large items across China.
The move is Alibaba’s latest push to boost its logistics and distribution services. In May it announced a plan to invest up to $16.3 billion over five to eight years in a consortium formed by retailers and courier companies to create a nationwide logistics platform.
“Alibaba desperately needed to team up with someone specialized in large-item delivery to secure its position in the online home appliance shopping market,” said Mao Ajing, an e-commerce analyst with the Beijing-based research firm Analysys International.
Chinese Vice-President Li Yuanchao speaks at the memorial for service for former South African president Nelson Mandela at the FNB Stadium in Soweto, near Johannesburg. Li concluded his speech by saying: “Although the great man has left, Mandela’s thought and his spirit will live forever.”