This is chinese, it's in the Cayman Islands and some kind of accounting mishap before Alibaba. But 'Parpart said Ben Bernanke, chairman of the US Federal Reserve from 2006 to 2014, had aired such a concern a month ago, saying the good times currently enjoyed in America could end “as soon as the tax-cut impact on the US economy is actually fading”.'
So, there was little likelihood of further rate hikes.
But the Chinese stock market appeared “close to bottoming out”, he said. “So, I think there’s a lot of buying opportunity in the Chinese market, but not in the United States.” soooo....
Alibaba and Cainiao Invest $1.38 Billion In ZTO Express
Craig Jones , Benzinga Staff Writer
May 29, 2018 12:03pm
A Chinese e-commerce giant struck a notable partnership Tuesday in the country's logistics sector.
What Happened
Alibaba Group Holding Ltd and its logistics arm Cainiao announced a strategic agreement Tuesday with ZTO Express (Cayman) Inc (ADR), a leading Chinese express delivery company. Investors led by Alibaba and Cainiao will put up $1.38 billion in return for an approximately 10-percent equity stake in ZTO Express.
Why It's Important
The investment is intended to support the collaboration between ZTO Express and Cainiao in the transformation of China's logistics industry in the areas of first- and last-mile pickup and delivery capabilities, warehouse management, cross-border logistics and technology-driven smart solutions, according to Alibaba.
The companies involved spoke favorably about their past partnership and emphasized high expectations for the future in an attempt to meet growing demand from "New Retail," a concept developed by Alibaba that promotes integration between online and offline commerce.
ZTO Express has been an important partner to Alibaba Group and Cainiao Network in the development of the new digital economy, Daniel Zhang, the CEO of Alibaba and chairman of Cainiao, said in a statement. The executive said he expects the investment to strengthen synergies across mutual businesses and to create new value and an improved experience for merchants and consumers.
What's Next
The transaction is expected to close in early June, subject to customary closing conditions. The New Retail concept will require investment in smart supply chains, retail technologies, advanced logistics and mobile payments, according to Alibaba.
Alibaba and Cainiao Invest $1.38 Billion In ZTO Express
Craig Jones , Benzinga Staff Writer
May 29, 2018 12:03pm
A Chinese e-commerce giant struck a notable partnership Tuesday in the country's logistics sector.
What Happened
Alibaba Group Holding Ltd and its logistics arm Cainiao announced a strategic agreement Tuesday with ZTO Express (Cayman) Inc (ADR), a leading Chinese express delivery company. Investors led by Alibaba and Cainiao will put up $1.38 billion in return for an approximately 10-percent equity stake in ZTO Express.
Why It's Important
The investment is intended to support the collaboration between ZTO Express and Cainiao in the transformation of China's logistics industry in the areas of first- and last-mile pickup and delivery capabilities, warehouse management, cross-border logistics and technology-driven smart solutions, according to Alibaba.
The companies involved spoke favorably about their past partnership and emphasized high expectations for the future in an attempt to meet growing demand from "New Retail," a concept developed by Alibaba that promotes integration between online and offline commerce.
ZTO Express has been an important partner to Alibaba Group and Cainiao Network in the development of the new digital economy, Daniel Zhang, the CEO of Alibaba and chairman of Cainiao, said in a statement. The executive said he expects the investment to strengthen synergies across mutual businesses and to create new value and an improved experience for merchants and consumers.
What's Next
The transaction is expected to close in early June, subject to customary closing conditions. The New Retail concept will require investment in smart supply chains, retail technologies, advanced logistics and mobile payments, according to Alibaba.