China urges logistics players to expand overseas

Speaking at an industry conference in Beijing, Wang Xuanqing, a deputy director at the Ministry of Commerce, said the government would encourage domestic logistics operators to acquire overseas distribution centres to “facilitate the nation’s trade growth”.


China urges logistics players to expand overseas


Speaking at an industry conference in Beijing, Wang Xuanqing, a deputy director at the Ministry of Commerce, said the government would encourage domestic logistics operators to acquire overseas distribution centres to “facilitate the nation’s trade growth”. Commerce Minister Chen Deming said separately: “We will take more steps to stimulate exports, to consolidate and expand our market share internationally in 2012.”

The move could also be seen as opportunity for Chinese logistics firms to benefit from depressed economies in much of Europe, snapping up overseas assets at lower cost. In the past few years large China logistics companies have bought significant assets in Europe.

Cosco Pacific acquired a container terminal concession at the Greek port of Piraeus, Sinotrans last year bought UK logistics operator Interbulk and late last year aviation and tourism conglomerate HNA Group completed the US$1 billion takeover of GE SeaCo, the world’s fifthlargest container leasing company.