Alibaba Group, parent company of China's largest consumer-to-consumer portal, Taobao, joined hands with several partners to kick off a logistics network program on May 28 in Shenzhen, south China's Guangdong Province.

The program, which will have a full investment of 300 billion yuan ($48 billion), will build up logistics facilities nationwide to enable parcels in some 2,000 Chinese cities to be delivered within 24 hours of online purchasing, according to Alibaba founder Jack Ma.

The China Smart Logistics Network will be run by Rookie Network Technology Co. Ltd., which was jointly established by Alibaba, Intime Department Store Group Co. Ltd., as well as the country's major delivery companies such as Shentong Express, ZTO Express and YTO Express, and other investors.

According to Ma, there are currently about 25 million parcels delivered every day in China, and that figure is expected to rise to 200 million in 10 years.