Alibaba To Invest $305M In Zhejiang Supermarket Chain Sanjiang Shopping

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Alibaba Group Holding Ltd. plans to invest RMB2.1 billion (US$305 million) in Zhejiang province-based supermarket chain Sanjiang Shopping Club Co., Ltd., as the Chinese e-commerce giant moves to pursue a "new retail" model envisioned by founder Jack Ma.

China Money Network

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