Australia Post, China Post jv plans expansion in China’s key centers
Australia Post said its recently formed international logistics joint venture with China Post is planning to open more distribution hubs in China’s key commercial and manufacturing centers after establishing the first hub in Shanghai in July.
It said the joint venture company, Sai Cheng Logistics, will link the hubs to similar facilities in Australia.
In its annual report, the Australian government-owned postal services and logistics company said the joint venture was formed in response to the increasing demand among Australian businesses for logistics and supply chain support in China.
It said Sai Cheng will manage the whole supply chain or parts of it, including collecting goods from the factory, assembling orders, packing and consolidation, international sea and air freight, customs clearances, time-sensitive delivery and credit management.
The annual report showed Australia Post’s June year net profit rose one pct to 374.9 mln aud. Revenue rose 3.9 pct to 4.32 bln aud.
Australia Post will return a dividend of 286.2 mln aud to the Australian government, based on 75 pct of the year’s net profit.
(1 usd = 1.33 aud)
