In the space of one month, Chinese e-commerce giant Alibaba, and its related affiliates, have invested more than RMB 3 billion ($432.1 million) in two emerging new retail players.

On November 19, Shanghai Yunxin, the company wholly owned by Ant Financial, said it would invest RMB 1.2 billion in vending machine solution provider UBox.

On October 17, Alibaba agreed to invest RMB 2 billion in alcohol retailing platform 1919.

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Runhua Zhao

Runhua Zhao is a technology reporter based in Beijing. Connect with her via email: runhuazhao@technode.com