Alibaba goes Belt and Road with Daraz deal

The Chinese e-commerce giant buys a Pakistani company that operates in five countries key to Beijing's regional trade plan

Jack Ma is following the Belt and Road route to international expansion.

The Chinese billionaire's Alibaba e-commerce empire has added an outpost in South Asia with the purchase of Daraz from Frankfurt-based incubator Rocket Internet.

The deal for the Pakistan-based online shopping group was confirmed in a statement on Tuesday. Terms were not disclosed.

It comes hot on the heels of an investment in Bangladeshi financial services provider bKash by Ant Financial, Alibaba's fintech affiliate.

In the case of Daraz, the deal gives Alibaba access not only to the market in Pakistan a key regional ally of Beijing but also...

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