Alibaba plans a brutal overseas expansion

The Alibaba e-commerce giant is preparing for a brutal overseas expansion, according to the company’s investment plans published by Reuters. Alibaba spends 100 billion yuan (about 3.9 billion HUF) in the next five years to expand and develop its logistics network.

Of this budget, 5.3 billion yuan will be invested into the Cainiao Smart Logistics Network, the largest alliance of Chinese logistics companies, whereby Alibaba will be 51 percent owner and will receive new seats in the board. With the capital injection, Cainiao will grow into a 20 billion USD business.
According to the news, the global expansion of Alibaba, may even affect Hungary. (index)