China’s post and telecommunications sector posted 169.2 billion yuan (21.1 billion U.S. dollars) in revenue growth in the first quarter, up 11.8 percent year on year.
A Ministry of Information Industry statement said postal revenues totaled 15.83 billion yuan (1.98 billion U.S. dollars) for the quarter, up 13.7 percent, while telecommunications revenues stood at 153.43 billion yuan (19.18 billion U.S. dollars), up 11.6 percent.
Read MoreDHL announced its China Priority strategy in Beijing, a move coming as the country, with a growth rate of 50-60% in 2004, has become the fastest-growing market among DHL’s global networks. Deutsche Post World Net (DPWN), parent company of DHL, will further elevate DHL’s capacity in China through heavier investments, revealed DPWN chairman Dr. Klaus Zumwinkel. Under the strategy, DHL-Sinotrans, its China joint venture, will inject up to USD 24 million in constructing the DHL-Sinotrans building as one of several big steps, bringing DHL’s total investment in the Greater China region to more than USD 900 million.
Read MoreDeutsche Post AG chief executive Klaus Zumwinkel told Handelsblatt economic daily that the company could seek to expand its DHL logistics operations in China via acquisitions. ‘If there is an attractive takeover target there, then we will take a close look at it,’ Zumwinkel told the newspaper. He also said that DHL wants to increase sales in China by 30-35 pct per year. DHL has a 40 pct share of the Chinese logistics and express mail market.
Read MoreJapan Post, the state-owned mail operator set for privatisation, said Monday it would open its first overseas office in Beijing to explore opportunities in China’s booming cargo market. The office, which is expected open around mid-May, will conduct research on Chinese demand for international cargo services.
Japan Post is looking overseas for new growth opportunities with its domestic mail services losing money. It aims to set up its second overseas foothold in Shanghai, he said. “We picked China as the first base because it is the market we should pay the highest attention to,” Japan Post senior managing executive officer Yoshiaki Hompo told reporters.
Deutsche Post World Net unit DHL said it will spend about 24 mln usd to set up a flagship headquarters for the express operations of its joint venture with China’s Sinotrans. DHL said in a statement that the investment in the new Beijing headquarters, to open in 2007, will push the commitment it has made to Greater China operations in recent years to over 900 mln usd.
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