 29-May-18, PaymentsSource 

Alibaba Group is leading the purchase of 10 percent of Chinese delivery service ZTO Express for USD1.38 bn, a deal that will augment the e-commerce giant's ability to ship packages around the globe.

Image: Bloomberg News

The Alibaba-led investor group includes its own logistics arm Cainiao. Cainiao and US-listed ZTO will collaborate on everything from delivery and warehouse management to technology.

Chinese express delivery has ballooned in past years alongside a boom in online shopping, as consumers increasingly demand faster and more reliable shipping. Alibaba and arch-rival JD.com are spending billions to shorten delivery windows to a day or less.

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