Suning.com, a B2C online shopping platform from Suning Appliance, has teamed up with Taicang port in Jiangsu province, local media reported on Aug 26.

According to the agreement inked on Aug 21, the two parties will build an industrial park for the e-commerce business around Shanghai.

With a total investment of 1.2 billion yuan ($167.6 million), the park will cover an area of 150 mu (10 hectares) and generate an annual sales volume totaling between 10 and 15 billion yuan.

The park will include a Suning.com regional e-commerce headquarters and a full range of supporting facilities to handle production, settlement, distribution, delivery, storage, supply and platform management businesses.

Suning.com ranked 333rd place in the 2019 Fortune Global 500 list and is one of the big three players in China's B2C market.

Suning.com has high hopes for Taicang port's superior geographical location and the vast market covering the regions around Shanghai, said Wang Changlin, vice president of Suning.com.

Wang added that the company will eye a pilot industrial park featuring advanced e-commerce and smart logistics clusters and make more contributions to Taicang port and the city of Taicang.