Photo: iStock

Cainiao Network, the smart logistic arm of Alibaba, announced that it will build a world-class logistics hub at Hong Kong International Airport — the world’s busiest cargo airport — to enhance its worldwide 72-hour delivery network, The Paper reported.

The HK$12 billion project led by Cainiao is also supported by Air China and YTO Express. Cainiao plans to build a multi-layered modern air freight logistics center with a total floor area of 380,000 square meters, making it the cargo hub for global SMEs in Hong Kong.

The project is expected to launch in 2023 and handle tens of millions of cross-border e-commerce packages each year.

Earlier in May, Jack Ma, chairman of Alibaba, stated that the group will further invest 100 billion yuan to build a national intelligent logistics network, which can ensure delivery within 24 hours, as well as a 72-hour delivery network along the Belt and Road countries around the world.

Cainiao has already picked out four locations to build overseas logistics hubs, including Kuala Lumpur, Dubai, Moscow and Liege.

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now.