Alibaba Makes Rural E-Commerce Push With $716 Million Deal
Chinese e-commerce giant Alibaba Group Holding Ltd.’s latest push to access the country’s vast rural market has arrived in the form of a 4.5-billion-yuan ($716 million) investment in an e-commerce firm that focuses on people living in villages.
Alibaba is poised to join hands with Huitongda Network Co. Ltd. to explore partnerships across supply chain management, e-commerce technology know-how, warehousing and logistics that will “help build an ecosystem and commerce infrastructure servicing rural areas,” Alibaba said in a statement to Caixin on Tuesday.
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