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Companies REIT wins approval to list on Shanghai exchange

Alibaba rival aims to offset heavy investment in e-commerce infrastructure

China's has invested heavily in its delivery infrastructure. (Photo by

SHANGHAI -- A real estate investment trust under the umbrella of China's has received approval to list on the Shanghai Stock Exchange, as the e-commerce company aims to lighten its investment burden with outside money.

China's Securities Regulatory Commission announced the approval on Monday, though the timing of the listing is undecided.

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