Internet giant Alibaba has joined forces with China's biggest defence company to offer location-based services using a homegrown satellite navigation system that competes with the US GPS network, the firms said.
New York-listed Alibaba and China North Industries Corp. (Norinco) have created a 2.0 billion yuan ($313 million) joint venture to offer services using Chinese satellite navigation system Beidou, Norinco said in a statement on its website.
Each company has a 50 percent stake in Shanghai-based Qianxun Weizhi network, which was set up on Tuesday, it said.
Norinco, a leader in China's military trade, is a sprawling state-owned group selling everything from tanks to air defence systems. It is the authorised company for research and applications for the Beidou system, state media said.
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