China to set up new body to operate postal services
China will set up a new body, to be called the State Post Group Co, this June to operate postal services, the China Business News reported, citing an unnamed insider.
The State Post Group will take over postal services, including express delivery, logistics and savings, from the State Post Bureau of China.
The report added that the State Post Bureau will transfer the assets of China Postal Airlines — an airlines operator — to the new group.
The move is part of the ongoing restructuring of the State Post Bureau. After the restructuring, the bureau, which is under the Ministry of Information, will supervise the sector.
The group may later seek strategic investors and go public, it added.
lilian.wu@xinhuafinance.com
