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China Post, Alibaba Group Sign Strategic Collaboration Agreement
China Post, Alibaba Group Sign Strategic Collaboration Agreement2014-06-19

China Post Group Corporation signed a strategic collaboration agreement with the Alibaba Group in Beijing on June 12.

 

Li Guohua [L], president of China Post Group Corporation and Ma Yun (Jack Ma), executive chairperson of the Alibaba Group attend the signing ceremony.

China Post Group Corporation signed a strategic collaboration agreement with the Alibaba Group in Beijing on June 12.

According to the agreement, the two sides will build up a collaborative platform for taking advantage of the two sides’ strengths. They will deeply collaborate on e-commerce, logistic delivery, financial services and information security. Additionally, they will jointly develop the China Smart Logistics Network.

Li Guohua, president of China Post Group Corporation and Ma Yun (Jack Ma), executive chairperson of the Alibaba Group attended the signing ceremony.

Alibaba Group is a privately owned Hangzhou-based group of Internet-based e-commerce businesses including business-to-business online web portals, online retail and payment services, a shopping search engine and data-centric cloud computing services. In 2012, two of Alibaba’s portals together handled 1.1 trillion yuan (U.S. $170 billion) in sales, more than competitors eBay and Amazon.com combined. The company primarily operates in the People’s Republic of China, and in March 2013 was estimated by The Economist magazine to have a valuation between U.S. $55 billion to more than U.S. $120 billion.

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