Joint-venture logistics company scores 50 pct growth in China
DHL Sinotrans, a joint venture between the world’s top express delivery company, DHL, and China Foreign Trade Shipping Group, posted a year-on-year growth of more than 50 percent in its business on the Chinese mainland last year.
By the end of 2004, DHL Sinotrans had increased the number of its subordinates nationwide from the year-earlier level of 50 to 56, covering 300-plus Chinese cities.
Dr Klaus Zumwinkel, chairman of DHL’s German parent company, said that in May 2004 DHL Sinotrans started domestic express delivery business in China, becoming the first international logistics companies to do so in the country.
He hailed the move as a landmark for DHL’s China operations, adding that the company’s domestic services in the mainland is growing at an annual growth rate of 20 percent to 30 percent.
