China's e-commerce giant Alibaba Group Holding Ltd, in tandem with industry partners, announced on Tuesday the establishment of a 100 billion yuan ($16.3 billion) logistics network that aims to make 24-hour domestic deliveries possible.
中国电子商务巨头阿里巴巴及其合伙人于周二宣布成立首期投资1000亿元“菜鸟网络科技有限公司”，旨在让全国任何一个地区做到24小时内送货必达。
The project, China Smart Logistic Network, is expected to improve efficiency through streamlined warehouse and logistics infrastructure, said Alibaba Chairman Jack Ma in Shenzhen.
“中国智能骨干网”项目旨在打造遍布全国的物流基础设施平台，阿里巴巴董事长马云在深圳宣布。
The new company, established by Alibaba and its partners, known as Cainiao Network Technology Co Ltd, plans to complete the network in five to eight years.
合作各方共同宣布新公司名为“菜鸟网络科技有限公司”，计划在未来5到8年内打造一张遍布全国的超大规模物流基础设施网络。
By teaming up with industry players like the retailer China Yintai Holdings Co Ltd, private conglomerate Fosun Group and major express delivery companies including SF Express (Group) Co and Yunda Express Service Co Ltd, the network is expected to support transactions worth 10 trillion yuan a year within the next decade.
由阿里巴巴、银泰、复星、富春、顺丰、申通、圆通、中通、韵达共同合作，预计在未来十年内可达到年零售额约10万亿。
Apart from Alibaba and Yintai, China's top insurer China Life Insurance (Group) Co and medium-sized lender China CITIC Bank Corp Ltd will help finance the project.
同时，中国人寿集团与阿里巴巴集团及银泰集团，中信银行与菜鸟网络分别建立了战略合作伙伴关系，为这一“中国智能骨干网”建设提供资金支持。
Shen Guojun, chief executive officer of the new company and the current chairman of Yintai, said: "By naming the firm 'Cainiao', ('rookie'), we position ourselves as a green hand in logistics so that we can maintain learning momentum in the Internet age."
沈国军，作为新公司的CEO和银泰的现任董事长说：“公司命名为菜鸟，是因为我们想把自己当成新手，这样才能在互联网时代一直保持不断学习的势头。”
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