02 février 2011
China's Alibaba Group is investing billions in infrastructure
The biggest e-commerce company in China, Alibaba Group Holding invests together with its financial partners up to 3.3 billion euros in infrastructure expansion. Since 30% of Chinese who are online use the internet to order goods, the investment is used to create an extensive network of warehouses and distribution centres with a total surface of 3 million square meters. In this way all goods can be kept in stock.
Currently, Alibaba, which owns among others Asia's largest online auction site Taobao, can deliver in 20 major Chinese cities in the short term. Within the next two years this number has to be 52 cities. Taobao claims a total turnover of nearly 15 billion U.S. dollars has been achieved with its auctions in 2008.
Source: Retail News