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　　Strategy differs from that of U.S. counterparts, which are moving at a more modest pace. The biggest online retailers in China are buying, building and refurbishing big portfolios of convenience stores, supermarkets and department stores, embracing a much more expansive bricks-and-mortar strategy than their U.S. counterparts.

　　中国最大的几家网上零售商正在收购、建造和翻修一大批便利店、超市和百货商店﹐采取比美国同行更加积极的实体店战略。中国最大的几家网上零售商正在收购、建造和翻修一大批便利店、超市和百货商店﹐采取比美国同行更加积极的实体店战略。

　　By contrast, in China, e-commerce giants Alibaba Group Holding Ltd and JD.com Inc. own or have signed sales and data deals with thousands of convenience stores, supermarkets and department stores across the country, including in the countryside.

　　相比之下﹐在中国﹐电商巨头阿里巴巴集团(Alibaba Group)和京东(JD.com)已经在包括乡村的中国各地拥有实体店，或者就是和数千家便利店、超市及百货商店签订了销售和数据协议。

　　Hangzhou-based Alibaba last year acquired retail property owner Intime Retail (Group) Co., which currently has 32 department stores and 30 shopping malls in China. It has also been acquiring stakes in retailers such as consumer-electronics seller Suning Commerce Group and home-improvement chain Beijing Easyhome Investment Holdings Group Co.

　　总部位于杭州的阿里巴巴去年收购了零售物业所有者银泰商业(集团)有限公司(Intime Retail (Group) Co.)，后者在中国拥有32家百货商店和30家购物中心。阿里巴巴还入股了消费电子产品零售商苏宁云商股份有限公司(Suning Commerce Group Co.,)和家居装饰连锁企业北京居然之家投资控股集团有限公司(Beijing Easyhome Investment Holdings Group Co.)等零售商。

　　To expand its grocery business in China, Alibaba now operates 57 Hema supermarkets, a high-end chain with a hippopotamus logo. It also has purchased interests in grocery-store and hypermart operators Lianhua Supermarket Holdings and Sun Art Retail Group , which operate thousands of stores between them.

　　为扩大在中国的食杂业务，阿里巴巴目前运营57家盒马(Hema)超市，这是一家高端零售连锁企业，标识是一只河马。阿里巴巴还收购了联华超市股份有限公司(Lianhua Supermarket Holdings Co.,)及高鑫零售有限公司(Sun Art Retail Group Ltd.)的股权，这两家公司运营着数千家门店。

　　“In retail, we’re anticipating changing consumer behavior and the increasing expectations of quality and convenience, whether these consumers shop online or in offline stores,” said Joseph Tsai, executive vice chairman of Alibaba, during the company’s earnings call in May.

　　阿里巴巴执行副主席蔡崇信(Joseph Tsai)在5月份的业绩电话会议上表示：“在零售方面，我们预计消费者行为不断变化，同时对质量和便利性的期望上升，无论这些消费者是在线购物还是在线下门店购物。”

　　In China, the glut is concentrated in more affluent areas and regions in which local governments and developers churned out new shopping centers in anticipation of rising offline shopper demand that never materialized. Many regions remain underserved by bricks-and-mortar retail.

　　在中国，零售空间供应过剩集中在更富裕的地区，这些地区的政府和开发商大量建设新购物中心，寄望出现越来越多的线下顾客需求，但这些需求从未出现。与此同时，很多地区的实体零售店仍然不足。

　　In many parts of China, especially rural areas, e-commerce companies began delivering modern consumer products, like quality baby goods and cleaning products, by bypassing existing shopping centers and malls, which were often located too far away from many consumers and didn’t have the same selections available.

　　在中国很多地区，特别是农村，电商公司开始绕过已有的购物中心和商场，递送现代消费产品，比如优质婴儿用品和清洁用品。这类实体购物场所过去通常位于距离很多消费者很远的地方，可供选择的商品也不如线上多。

　　Those e-commerce businesses now want to expand further into rural and suburban areas, in anticipation that household incomes will continue to grow. As part of that expansion strategy, bricks-and-mortar stores are attractive, partly because home deliveries are more expensive in sparsely populated areas.

　　电商公司如今希望进一步向农村和城郊地区扩张，寄希望于家庭收入将继续增长。作为这一扩张战略的一部分，实体店颇具吸引力，部分原因在于，在人口稀少的地区，送货上门服务的成本更高。

　　E-commerce businesses say supply chains can be more efficient by serving both online shoppers and bricks-and-mortar retailers. Retailers and landlords also see benefits from combining and analyzing online and physical-store shopping data together.

　　电商公司表示，通过既服务线上购物者，也服务实体零售商，供应链可能变得更加高效。零售商和店面出租方也因把线上和实体店购物数据相结合并进行分析而获益。