HNA Group, parent company of China's largest private carrier, Hainan Airlines, has launched a new logistics company in Shanghai, reports Xinhua.
The new firm, Grand China Logistics Holdings Co Ltd, with a registered capital of CNY1 billion (US$146.3 million), has five subsidiaries in ocean shipping, and one in air and ground logistics, terminal operations, ship management and property management. The company has 27 branches in major domestic cities with distribution and warehousing facilities.
Grand China Logistics president Jia Hongxiang said the company is aiming to become globally competitive in nine years. It plans to provide door-to-door logistics and to expand its network to cover Japan, Korea, South East Asia, Middle East, Africa, Latin America, Russia and Eastern Europe.
Mr Jia said the company's competitiveness lies in the vast air transport resources of its parent HNA Group. Combining the container and bulk cargo ground transport operations of its own, the company can offer comprehensive logistics services.
Source: Transportweekly