China North Industries Group Corp (Norinco Group) and e-commerce giant Alibaba Group Holding have set up a joint firm to provide location-based services using China's Beidou navigation system.
The Shanghai-based firm has 2 billion yuan ($310 million) in registered capital, with each company holding 50 percent, according to Norinco Group.
The joint venture plans to offer location-based services to businesses using the country's Beidou Navigation Satellite system and online networks.
