Chinese stimulus plan – defend and spend
Don’t burst the bubble…
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By Alex Lennane
Hong Kong-based Kerry Logistics Network plans to move further into the Chinese e-tail market, it said this week as it announced its financial results. Net profit for the company, which listed on the Kong Kong stock exchange last year, rose 71.5% – although core net profit rose just 8.7%. It is launching an e-commerce platform in Hangzhou to boost its e-tail business, which now accounts for just 10% of its revenues from mainland China.
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