Chinese tech giant Alibaba Group Holding Ltd has formed a strategic partnership with retail conglomerate Bailian Group, extending a push into bricks-and-mortar retail as online growth slows. There are currently no plans for financial investment, an Alibaba spokesman said. Also Read: Snapdeal and Paytm are talking merger: ReportShanghai-based Bailian Group is one of China's largest retailers by sales, operating 4,700 outlets in 200 cities including supermarkets, convenience stores and pharmacies. Shares in Bailian Group's subsidiaries surged on Monday, with Shanghai Bailian Group Co Ltd climbing by the 10 per cent daily limit, Lianhua Supermarket Holdings Co Ltd jumping close to 10 per cent and Shanghai Material Trading Co Ltd up 5 per cent. Bailian and Alibaba will initially cooperate on supply chain technology using Alibaba's big data capabilities as well as integrating Alipay payments with Bailian Group's existing membership program.

Source: India Today February 20, 2017 05:28 UTC