China's major logistics companies seek listings to compete with global rivals
An interesting report from China claims domestic express operators are looking to list on both ...
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By Alex Lennane
YTO Express, hitherto known as a Chinese express courier, is planning to go global, and to that end has set up a new international business headquarters in Hong Kong. Its platform for overseas growth comes off the back of its acquisition of On Time Logistics last year. A YTO vice president said it was “nerve-racking” for a Chinese company to step into overseas markets, because of cultural and legal differences, which is why the On Time acquisition should help. YTO told SCMP one of its biggest costs would be acquiring aircraft for its international operations. Interesting development.
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