(Yicai Global) Sept. 20 -- Cainiao Network Technology Co., a logistics firm owned by Chinese e-commerce stalwart Alibaba Group Holding Ltd. [NYSE:BABA], plans to put up industry subsidies worth CNY1.5 billion (USD228 million) in preparation for the upcoming Singles' Day shopping festival, a huge sales promotion day held in China every Nov. 11, also known as 11.11.
China Express Association, Cainiao and other logistics firms recently held a mobilization meeting in Shanghai for the shopping festival. The industry is set to handle over a billion packages nationwide between Nov. 11 and Nov. 16 this year, Cailian Press reported on Sept. 20.
The event this year will be a great challenge for the large-scale application of smart logistics. New technologies, including smart storage, green storage and last-100-meters delivery services will all be put to use, said Shi Miao, vice president of Cainiao. His firm is putting up the subsidies for its smart storage partners.
Cainiao will kick off its smart storage program nationwide, with operations in Shanghai, Tianjin, Zhejiang and Guangzhou working together during the shopping festival in data sharing and standardized management.
Estimates suggest that some three million delivery staff will be at work during the event, with delivery vehicles, including planes, being used 30 percent more than usual over the short period.