China looks for improvements in express industry in 2012
China’s State Post Bureau said today it would work to solve problems in the country’s courier and express delivery market and actively pursue reforms in the industry.
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China Post’s privatisation battle is back on
The on-off saga of China Post’s possible privatisation has been thrown into turmoil again after its deputy director, Chen Furong, said that speculation about a stock market listing was “pure rumour”. Mr Chen, in an interview with China Business Weekly, also said there was no imminent plans to change the state-owned company. “We have several plans … but the final plan is still under review,” he told the Chinese publication. China Post, or the National Postal Bureau (NPB), has proposed to list its branches in six overseas regions, Hong Kong being one of the six. Analysts say this listing exercise could raise USD500 million, which could be used to further invest in strategy against competition from other carriers.
Read MoreTNT teams with China Post
TPG N.V. and China’s State Postal Bureau have signed a memorandum of understanding that covers post, express and logistics services. TNT Co., a unit of TPG, recently severed links with state-run Sinotrans, ending its 15-year Skypak Sinotrans Ltd. joint venture. The global delivery service instead switched to smaller Supermart International Transportation Co. as its local partner.
Read MoreChina Post targets H1 revenue of 26.4 BLN Yuan, up 6.73% yr on yr
China State Post Bureau (China Post) is aiming to record 26.4 bln yuan in revenue for the first half of this year, up 6.73 pct year-on-year and representing 48 pct of the full-year revenue target, the China Economic Times reported, citing Liu Andong, a China Post director.
The newspaper said China Post plans to increase its registered logistics subsidiaries to 20 in the first half, and further strengthen its cooperation with foreign partners, including Japan’s Mitsui & Co Ltd.
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