Alibaba to invest massively in aggressive overseas expansion

Alibaba, the Chinese e-commerce giant, has been on an expansion tear, spreading its e-commerce channels to Indonesia, Thailand and the Philippines. Now, the company has revealed plans to greatly step up its overseas efforts by investing the equivalent of $15.12 billion over five years to build out a global logistics network while taking control of Cainiao Smart Logistics Network, a joint venture of top Chinese logistics firms valued at about $20 billion.