China Smart Logistic Network, or CSN, a logistics program aiming for supporting 30 billion yuan ($4.8 billion) worth of daily online sales and making same-day delivery available on every corner in China.

Led by Alibaba, the project is joined by major delivery services, e-commerce players like Yintai, investment and financial institutions. Alibaba Jack Ma will be the president of the newly established enterprise and the chairman of Yintai, Shen Guojun, will be the CEO.

It is expected that it will take eight to ten years to finish the project. The first investment will be 100 billion yuan ($16 billion). The existing participating members and future newcomers need to agree to keep injecting funding in the coming five to eight years

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com