Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

China debuts new state-owned logistics giant

Photo: China Logistics Group China Logistics Group (002).jpg
China has launched the newly established state-owned China Logistics Group with investors from the shipowning, ports and aviation sectors.

The State-owned Assets Supervision and Administration Commission (SASAC) and China Chengtong Holdings Group each hold 38.9% shares of the new company, the three strategic investors, China Eastern Airlines, Cosco Shipping and China Merchants Group, hold 10%, 7.3% and 4.9% of the shares, respectively.

The newly-formed group, merged from China Railway Material Group and four units of China Chengtong Holdings Group, including China Material Storage and Transport Company, CTS International Logistics Corporation, China Logistics Company and China Packaging Corporation, is a diversified centrally administered enterprise under the supervision of SASAC, and another move for China to continually reform the state-owned enterprises.

Li Hongfeng, former president of China Chengtong Holdings Group was named as the chairman of China Logistics Group, while Liao Jiasheng, former president of China Railway Material Group was appointed as the general manager. 

The establishment of the new logistics group is an integration for state-owned logistics industry players, and a significant measure and practical action to promote high quality development of Chinas logistics industry. 

China Logistics Group currently has over 600 branches, covering 30 provinces, cities and districts domestically and five continents, having distinct competitive advantages in international logistics market. 

For the 14th Five Year period, China Logistics Group will serve as an integrated logistics solution provider and a global supply chain organiser.

The launch of the new logistics group comes at a time when global supply are under unprecedented stress as result of the Covid-19 pandemic. Both major global shipping companies and port terminal operators are focusing investments on the logistics and supply chain sectors.

 

 

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish
TMSRPan21-22 Category Promo 600_600-resize
Read Now

The 21st Edition of Panama Maritime Review

"We will invest in digital transformation, exploring innovative ways in which we can maxinimise the Canal's capacity to provide value guarentee quality of service to our customers."

Ricaurte Vásquez Morales, Panama Canal Administrator

Read Panama Maritime Review 2021/22 to find out more.

TMSRPan21-22 Category Promo 600_600-resize