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GAC awarded WOFE status in Shanghai

GAC awarded WOFE status in Shanghai

Shanghai: GAC's representative office in Shanghai has been awarded an A-Class forwarding license by China's Ministry of Commerce, allowing it to operate as a wholly-owned foreign enterprise (WOFE) named GAC Forwarding & Shipping (Shanghai).

Christer Sjödoff, GAC Regional Director for Asia Pacific and Indian Subcontinent said, "With this license in place, we will be able to market our extended range of logistics services directly to customers and trade in the Renminbi currency. The Shanghai office will also serve as a key communication and coordination centre for all GAC business operations throughout Northern and Central China."

GAC stated that this development is in line with the group's globalisation strategy, which identifies China as one of the most important growth markets. The company plans to open three more offices in Xiamen, Beijing and Shenzhen within the next month.  [30/01/07]