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Delivery Firms Venture Into Logistics Chain Insurance

By Dong Tongjian
A planned new logistics insurer will be the first in China to be set up by delivery companies themselves. Above, Lei Wentao loads his cargo tricycle before his morning shift at a distribution hub of the Chinese express parcel delivery firm Shentong (STO) Express in Beijing on Aug. 29, 2017. Photo: Visual China
A planned new logistics insurer will be the first in China to be set up by delivery companies themselves. Above, Lei Wentao loads his cargo tricycle before his morning shift at a distribution hub of the Chinese express parcel delivery firm Shentong (STO) Express in Beijing on Aug. 29, 2017. Photo: Visual China

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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