Australia teams with China to deliver the goods
Australia Post is going into the mail and logistics business in China in a joint venture operation that is expected to grow into a AUSD1 billion business within a decade. In the first significant move to spread Australia Post’s revenue base overseas, the government-owned postal operator has formed a company with China Post to become a major operator in the logistics business in China. The new joint venture company is called Sai Cheng – which means “exceed, surpass, honest and sincere”. It will begin building a transport and logistics hub near Shanghai to distribute goods from China’s expanding manufacturing base around the world. Australia Post chief executive Graeme John said the joint venture company had already identified the next five logistics hubs it would build in China after Shanghai in order to quickly expand the company.
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