Delivery Firms Venture Into Logistics Chain Insurance
A consortium led by Chinese delivery companies is planning to set up a joint venture on logistics insurance, although whether they can secure an operating license from the regulator remains a major uncertainty.
In a disclosure filed to the Shanghai Stock Exchange on Friday, STO Express Co. Ltd. said the joint venture will have seven partners, including itself. The others will be Yunda Holding Co. Ltd., ZTO Express Co. Ltd., Guangzhou Baogong International Freight Agency, Jiangxi Financial Holding Group, Shandong Jingjin Holding Group, and Shanghai YTO Jiaolong Investment Development (Group) Ltd.
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