Topics

NYSE Euronext, Inc.
Alibaba, set for U.S. IPO, delivering boost to China's parcel services
Alibaba, set for U.S. IPO, delivering boost to China's parcel services

When shares of Chinese e-commerce giant Alibaba Group Holding begins trading Friday on the New York Stock Exchange, 23-year-old express delivery man Diao Binghui will be wrapping up his typical 131/2-hour workday half a world away in Beijing's eastern suburbs. Zigging and zagging on a three-wheeled electric cart, Diao navigates a two-mile route through vast apartment complexes. His mobile phone buzzes constantly, as his regular customers ring to find out when he'll arrive with their book bags and T-shirts, cellphones and cameras, skirts and shoes, and other sundry items bought online — including, on one occasion, 100 pounds of dumbbells. Some of Diao's customers live...

Loading