Alibaba's Cainiao JV to invest $1.53b in logistics hub at Hong Kong airport

Alibaba's Cainiao JV to invest $1.53b in logistics hub at Hong Kong airport

FILE PHOTO: A logo of Cainiao Smart Logistics Network Ltd is seen outside its industrial park in Jinhua, Zhejiang province, China March 29, 2017. Picture taken March 29, 2017. REUTERS/Stringer Reuters

Alibaba Group Holding Ltd’s logistics affiliate said on Wednesday that it would lead a joint venture to invest $1.53 billion in a new logistics center at Hong Kong’s airport as part of its efforts to expand its global delivery network.

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