Alibaba kicks off restructuring with plan to list logistics arm Cainiao in Hong Kong

Alibaba kicks off restructuring with plan to list logistics arm Cainiao in Hong Kong

People visit the booth of Alibaba's logistics unit Cainiao at the 2021 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 3, 2021. REUTERS/Florence Lo

Alibaba Group on Tuesday kicked off its restructuring with a plan to list its logistics arm Cainiao in Hong Kong that would make the unit the first to be separated since the Chinese e-commerce giant announced its break-up six months ago.