China Logistics Group established
Department of Publicity 2021-12-07
On December 6, China Logistics Group Ltd. (China Logistics Group) was established in Beijing. The State Councilor Wang Yong attended the inauguration ceremony. Hao Peng, Secretary of the CPC Committee and Chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) addressed the ceremony. Zhu Bixin, China Chengtong’s Secretary of the CPC Committee and Chairman spoke in the ceremony. Liu Shaoyong, China Eastern Airlines’ Chairman, and Li Hongfeng, China Logistics Group’s Chairman delivered speeches at the conference respectively.
In Hao Peng’s speech, he underlined the significance of setting up China Logistics Group as an important measure serving the new development paradigm that deepens SOEs’ reform and promotes structural reform. Hao said that China Logistics Group should concentrate on facilitating the dual circulation development pattern, in which domestic and foreign markets can complement each other, with a more rational business and industry layout and an enhanced modern circulation system that is safe, reliable and efficient, in which ways China Logistics Group will be able to well implement the national strategy and contribute to the sound development of national economy. The new group should serve the real economy with an accelerated construction of a national comprehensive logistics data platform to promote the digitisation, intelligent transformation and cross-border integration of traditional logistics business, and help improve the stability and competitiveness of the country’s industrial chain and supply chain. China Logistics Group should also continue to deepen the SOEs reform, and see a flexible and efficient business mechanisms supported by constantly improved modern management capabilities. Furthermore, the new group must adhere to the Party’s leadership and ensure its high-quality development under the guidance of high-quality Party building work.
Zhu Bixin noted in his remarks that the establishment of China Logistics Group is a strategically important step towards the implementation of General Secretary Xi Jinping’s instructions on accelerating the building of a modern circulation network and serving the new development paradigm, which is also a crucial measure that deepens the state capital operating company’s reform and makes its major business scopes more focused. Under the leadership of the SASAC, China Chengtong has taken the initiative in advancing the establishment of China Logistics Group, consisting of the Group’s former companies from logistics section and China Railway Materials Group Corporation (CRMG). As the new group’s major shareholder, China Chengtong will make full use of its advantages in capital operation and carry out constructive cooperation with other shareholders to jointly contribute to the country’s logistics capacity development.
Consisting of the former CRMG and China Chengtong’s CMST, CTS Logistics, China Logistics and China Packaging, the newly established China Logistics Group has a registered capital of RMB 30 billion. The SASAC and China Chengtong both hold 38.9% of China Logistics Group’s shareholdings, and China Eastern Airlines, COSCO Shipping, and China Merchants Group hold 10%, 7.3% and 4.9% respectively. The new group’s business covers comprehensive services of rail transit industry, bulk commodity supply chain services, livelihood logistics, manufacturing logistics, engineering logistics, emergency logistics, cross-border e-commerce logistics, etc.