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Companies's flurry of moves show need for new growth drivers

China's No. 2 e-commerce group is seeking to diversify its business

     © Reuters

HONG KONG --, China's second-largest e-commerce company, is stepping up efforts to diversify its revenue streams as its domestic online retail sales growth slows.

As the company readies for the launch of an online storefront in the U.S. following on the heels of its official launch in Thailand, it announced last week that it would start offering parcel delivery services for Chinese consumers, leveraging off its extensive logistics network. The company has also reportedly recruited a group of executives from 7-Eleven's China arm to help with its plan to build out 1 million domestic convenience stores.

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