Alibaba eyes second $20 billion listing in Hong Kong: Report
The listing could occur as early as the second half of 2019.
The listing could occur as early as the second half of 2019.
The e-commerce giant will withdraw its domestic marketplace from China in July to focus on its other profitable businesses within the country, according to a report.
STO Express is the fourth major logistics company in China that Alibaba has invested into as it eyes providing next-day delivery for all of China.
Chinese e-commerce platforms are expanding overseas as domestic growth slows.
The e-commerce law newly enforced in China on Jan 1, 2019, aims to improve regulation over vast online markets that have been dominated by players like Alibaba and JD.com.
Macy's was once a top online retailer that sold imported products to consumers in China, but will now exit the Chinese market entirely.
The boss of Chinese largest e-commerce operator announced earlier this month that he will step down in 2019.
JD.com's self-owned logistics enabled 90 percent of orders to be delivered within the day or the day after.
Amazon is offering a so-called 72-hour 'Real Black Friday' shopping festival to Chinese consumers this year by allowing them to shop at four of its most favorable overseas Amazon websites in a bid to boost sales.
The annual shopping event in China has also generated 1.38 billion packages in just one day, according to a big data firm.