Tag: China

TNT to Complete Acquisition of HOAU by 2006

Posted by | Apr 14, 2006 | |

TNT is expected to complete acquisition of HOAU Logistics Group by the end of this year. TNT is buying HOAU Logistics, the biggest freight & parcels operator in mainland China, for USD 135 million, which is much higher than estimated CNY 900 million. The acquisition price was disclosed by Tian Yu, director general of the Jiamusi Municipal Merchants Bureau, at Heilongjiang Provincial Merchants Promotion Conference. However, TNT says any detail shouldn’t be disclosed now that it is in the process of acquisition at present. Ken McCall, CEO of TNT China, told journalists that TNT will increase its Chinese employees to 12,000-14,000 from existing 4,000-5,000 upon the completion of the acquisition.

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Beijing postal service starts making small-scale loans

Posted by | Apr 12, 2006 | |

The sprawling savings arm of China’s monopoly postal service has begun making loans for the first time, a move intended to help it prepare for its transformation into the country’s fifth-largest bank. After years of delay, officials say Beijing is close to launching reform of the Postal Savings and Remittance Bureau, which has more than 36,000 branches and held Rmb1,300bn (USD162bn, GBP93bn) in deposits at the end of 2005. “It should happen very soon,” an official at the China Banking Regulatory Commission said yesterday.
As part of preparations for its life as an independentbank, the CBRC hasgranted the postal savings bureau permission to offer small loans to rural customers on a trial basis. Most of the bureau’s income currently comes from long-standing deposits with the People’s Bank of China, the central bank, on which it earns favourable interest rates.

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FedEx Express eyes China's rising MSMEs delivery market

Posted by | Apr 6, 2006 | |

FedEx Express announced on April 5 that it will supply seven new kinds of packing materials specially for China’s micro, small and medium-sized enterprises clients. It’s the first time FedEx has provided new packing materials specifically for the Chinese market. Currently, FedEx has offered 16 kinds of packing materials free of charge to its Chinese clients.

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UPS expands air network in China

Posted by | Apr 6, 2006 | |

UPS today announced the start of direct air service from Shanghai to Europe along with the addition of three new flights connecting Shanghai to the US and another new flight between Qingdao and Incheon, Korea. “UPS now flies to more points in China than any other US airline, freight or passenger,” said David Abney, president, International Operations. “These new flights are part of our strategy to expand our service options, stay ahead of customer needs and solidify our position as the leader in the world’s fastest growing market.”
UPS will utilize MD-11 aircraft to fly from Shanghai to Cologne five times a week. In addition to the new service to Europe, UPS has added three new frequencies on its Shanghai-US route, increasing to nine times per week the number of non-stop flights on that lane. The number of UPS flights into Qingdao, a major port and manufacturing center, now has increased to six per week.

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TNT China to sell ANJI-TNT Automotive Logistics

Posted by | Apr 4, 2006 | |

TNT China plans to sell its profitable operation ANJI-TNT Automotive Logistics Co. and acquire HOAU Logistics Group before the end of the year. Then, TNT will have the largest exclusive freight and parcel transportation network in China. Thereafter, the logistics group will fully turn to focus on businesses of mail express and forwarding management. TNT is in talks with various companies who are intending to purchase its contracted logistics business, and the deal is expected to be sealed at the end of the year. Meanwhile, TNT is stepping up further negotiations on the acquisition of HOAU Logistics, and the group will make efforts to keep the latter’s name because of its fame and brand value in the country.

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