China's leading e-commerce firm Alibaba and a Shanghai-based state-owned retail conglomerate Bailian Group announced a rare private-public strategic alliance to push forward partnership for creating a new shopping scenario.
The strategic partnership will allow Alibaba to put its New Retail concept into practice, changing customer experience and efficiency of logistics and services.
Alibaba's CEO Zhang Yong commented on the company's tie-up with the Bailian Group as increasing efficiency and enhancing customer experience.
It is rare for Chinese-state run firm to tie up with a private-owned company for business expansion.
The alliance does not involve capital ties at this stage.
Consumption contributed 64.6% to China's GDP growth last year, as the country moves from an export and investment-driven growth model into one that draws strength from consumption, innovation and the service sector.
Bailian Group: Know More- Bailian Group is a state-owned enterprise in Shanghai, China's financial hub.
- Its main business covers department stores, shopping malls, outlets, large stores, supermarkets, convenience stores and specialty retail formats.
- It is also operating in non-ferrous metals, ferrous metals, automobiles, chemical lighting, electricity, timber and fuel, etc.
- It operates 4,700 stores in more than 200 Chinese cities.
- Ye Yongming, chairman of Bailian, said traditional retailing requires technology to provide consumers with new shopping experiences anytime and anywhere.
