Alibaba-backed Best Logistics has filed for a $1bn New York listing in what could be the biggest US float of a Chinese company this year. According to the Financial Times, the initial public offering is seeking to tap investor interest in Chinese e-commerce and the country’s fast-growing logistics industry, which delivered 31bn parcels last year, some 50% up on the previous year. Best Logistics, which will be known as Best Inc in the US, was valued at $3bn in a funding round last year. Alibaba, a driving force in the development of delivery and logistics in China because of its commanding online presence, is the biggest single shareholder with 23.4%. Founder Johnny Chou holds 14.7%. Best plans to use the cash raised to fund the group’s expansion plans. Revenues have almost trebled in the past three years to $1.3bn. Losses meanwhile have nearly doubled to $198m last year.