China Post plans express unit listing
China Post is planning to list the shares of China Postal Express & Logistics Corporation, its express and logistics unit, in Shanghai or Shenzhen next year, reports The People’s Daily. The article continues:
The float will make China Postal Express & Logistics Corporation the first listed express company in China, said Shao Zhonglin, deputy secretary-general of the China Express Association.
The integrated unit was set up with a registered capital of 200m yuan ($29.51m) on June 29 and combines the express and logistics operations of the group.
Liu Andong, general manager of China Post, said the integration of the express unit EMS Corporation and the logistics arm China Post Logistics Co Ltd was part of the plans to transform itself into a modernised post group.
EMS was established in 1985 to operate the country’s postal express mail service, while China Post Logistics was founded in 2003 to manage comprehensive businesses such as warehousing, distribution, and transportation.
In 2009, EMS earned revenue of around 15bn yuan, and was the market leader in China, said a July 5 report in the 21st Century Business Herald.
The new entity will own the “all night” cargo aviation network and also have the largest domestic express service network. It will also promote resource sharing between the two sectors and help reduce costs, said the group.
