BEIJING (CAIXIN GLOBAL) – A brand new logistics behemoth in China combining 5 state-owned corporations was launched Monday in a push by the central authorities to consolidate state belongings.
China Logistics Group, with registered capital of 30 billion yuan (S$6.43 billion), was created via a mixture of China Railway Supplies Group and 4 subsidiaries of China Chengtong Holdings Group – China Nationwide Supplies Storage and Transportation Group, CTS Worldwide Logistics Corp. Ltd., China Logistics Co. Ltd., and China Nationwide Packaging Corp.
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