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China Post and GLP start in-depth strategic partnership
China Post and GLP start in-depth strategic partnership
| China Post |2021-10-20

On October 15, a venture jointly funded by China Post Group Corporation Limited (China Post Group) and Global Logistic Properties (GLP), was officially established, and its first shareholder’s meeting and board meeting were held, which indicates that China Post Group and GLP have officially started in-depth strategic partnership in the field of capital operation and assets management.

Through the joint venture, the two parties will establish a private equity investment fund with modern logistics industry as the core, and with a target investment scale of 20 billion RMB (about 3.132 billion USD). The partnership fund will mainly invest in newly developed logistics, warehouses, operation centers and urban distribution parks in first-tier cities, key transportation network nodes and hub areas of urban agglomerations, while taking into account upgrading and revitalizing the idle assets in the postal system. The investment projects include multi-purpose logistics and warehousing infrastructure assets, such as postal express sorting centers, airside freight centers, e-commerce warehouse and distribution centers, high-end customized warehouses, high-standard cold storages and so on.

Centering on China's 14th Five-Year Plan, the fund will take the logistics and warehousing assets, which it invests in, as the backbone nodes and links to vigorously explore the integration of big data, internet, artificial intelligence, block chain and other new technologies with the logistics industry, so that goods can flow smoothly and reach everywhere.

As a partner, China Post will give full play to its advantages in resources and leveraged funds to enhance its service capacity and influence in the industry by building and laying out more high-standard logistics warehouse networks, which may in turn facilitate coordination among different units and development of ecosystems in parcel, express and logistics business as well as in financial services. GLP will give full play to its world-leading expertise in alternative asset investment management, especially its advantages in intelligent and zero-carbon operations management developed when cultivating the field of logistics and warehousing, to provide professional asset services for the projects and improve asset operation efficiency and asset value.

Upon completion, the projects invested by the fund will help improve the service level of the logistics facilities in the regions where they are located and create a synergistic effect with the infrastructure networks managed by GLP and China Post Group, improving the service capacity, promoting the upgrade and development of the logistics industry, and contributing to regional economic growth and social development.

At the same time, through institutional reform and innovation, both parties will focus on modern logistics industry, integrate high-quality resources of the state-owned enterprise with market-oriented and professional operations and management, and ultimately facilitate the infrastructure development.

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