China Smart Logistic Network (CSN), also known as Cainiao, was launched by Alibaba Group jointly with eight other companies on 28 May 2013. CSN aims at building a logistic platform to accelerate e-commerce deliveries in China by investing about 100 billion yuan ($16 billion) in the next few years. It promises to allow parcel deliveries between 2,000 of China's major cities within 24 hours. Currently, 25 million parcels are delivered each day in China. The figure will grow to 200 million in 10 years.