According to AASTOCKS, COSCO said on Wednesday the group with Alibaba is to build cross-border E-commerce logistics service.

COSCO air becomes the only assigned cross-border E-commerce logistics provider in Guangzhou ports for Alibaba. It offers whole journey logistics service for cargos of Tmall inbound from Guangzhou ports.

On Friday 11 July, CSCL announced that it had entered into a cooperation agreementwith Alibaba and China Shipping Network Technology (CSNT), an affiliated company ofCSCL, to establish a global e-commerce integrated logistics and information serviceplatform, specializing in containerized international logistics and transportation. CSCL'sstock price rallied more than 8% on the back of the news.