Courier firms expanding overseas
Ambitious plans
Top Chinese couriers, including YTO Express Group Co, SF Holding Co Ltd and ZTO Express (Cayman) Inc, are planning aggressive overseas expansion, while the global logistics market remains dominated by Germany's DHL, and the United States' UPS and FedEx Corp.
YTO Express is joining hands with Cainiao Network, Alibaba Group Holding Ltd's logistics arm, and China National Aviation Corp to build a new logistics center at Hong Kong International Airport, to enhance its global logistics capabilities.
The center will cover an estimated gross floor area of 380,000 square meters. It is expected to handle tens of millions of cross-border e-commerce parcels a year after it opens in 2023.
Last year, Shanghai-based YTO Express acquired a 61.75 percent stake in Hong Kong-listed On Time Logistics Holdings Ltd, which handles air freight forwarding business in Asia, Europe and North America.
YTO Express' international network now covers four continents, serving 50 countries and regions. It has more than 60 directly operated international delivery facilities and over 1,000 overseas agents.
Yu Weijiao, chairman of YTO Express, said Chinese couriers are thriving and the world needs Chinese services. In the future, more international flight routes will be launched to Russia, Malaysia, the Philippines and Japan, to offer quicker airline delivery services.
