Alibaba invests $717m in China PE-backed rural e-commerce site
Alibaba Group has agreed to invest RMB4.5 billion ($717 million) in Huitongda Network, a private equity-backed online retailer that focuses on China’s rural areas.
The two parties will collaborate in the areas of supply chain, storage, and logistics, as well as technology to provide a variety of services for the rural market, a statement said. These include brand...
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