In China’s biggest cities you can get everything from Australian steaks to obscure art delivered within 24 hours due to the country’s highly developed e-commerce logistics infrastructure. The express delivery market has become feverishly competitive, leading companies to seek new funding for major expansions into China’s untapped cities and villages.

Alibaba-backed YTO Express will be merging with the Shanghai-listed clothes company Dalian Dayang Trands Co. Ltd., in a deal worth 17.5 billion yuan ($2.7 billion USD), according to an exchange filing by the clothes company on Tuesday.

Dayang Trands will convert their assets to YTO Express, meaning shareholders of the delivery company will own Dayang Trands through the backdoor listing.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com