China Post could list overseas
China’s national postal service could seek to list shares overseas to improve management and raise capital to expand its network, the official China Daily said on Wednesday. A spokesman for the China State Post Bureau said he was unaware of any plans for a listing.
But the China Daily quoted sources close to the bureau as saying the bureau’s express mail service, said to be the most profitable part of its operations, was likely to be included in any listing.
The spokesman said China Post was still organised as a government agency rather than a company, although he did note that certain divisions, such as cargo and express delivery, were run like corporations.
On Tuesday, China Post said China Southern, the country’s largest airline, would buy a 49 percent stake in its China Postal Airlines, which has a monopoly on domestic air postal service.
