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State-owned China Logistics Group was launched yesterday by merging China Railway Material Group and four units of China Chengtong Holdings Group.
They are China Material Storage and Transport Co, CTS International Logistics Corp, China Logistics Co and China Packaging Corp.
And China Eastern Airlines, Cosco Shipping and China Merchants Group are onboard as strategic investors in the new China Logistics Group, holding stakes of 10%, 7.3% and 4.9%, respectively.
The state-owned Assets Supervision and Administration Commission (SASAC) and China Chengtong, a state-owned conglomerate, hold ...
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