Alibaba extends retail push with investment in STO Express

The noise surrounding Amazon may ring louder, but China’s Alibaba is in many ways mirroring its North American competitor. The e-tail giant has just announced a near-$700m investment in Shanghai-headquartered STO Express. The agreement marks Alibaba’s fourth express courier investment, with minority stakes now held in YTO, ZTO, and Best, according to The South China Morning Post. This 15% stake in STO comes amidst a crucial period for China, with its logistics sector seen as a key growth corridor.