On Wednesday, Macy’s said it has formed a joint venture in China with Hong Kong-based Fung Retailing that will start by selling products on Alibaba Group Holdings Ltd’s (BABA.N) Tmall Global marketplace. The deal comes in the wake of Macy’s plans to open off-price stores in the United States that will sell clearance products, start new stores that will sell luxury beauty products, and offer same-day delivery services in more U.S. markets than Amazon (AMZN.O). Macy’s also is expanding a new loyalty program, localizing store assortments and trying to improve store service.