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Alibaba-backed Chinese courier YTO Express to launch global expansion
Chinese courier YTO Express to launch global expansion from new Hong Kong headquarters

Mainland courier YTO Express is set to launch an ambitious global expansion plan from Hong Kong after electing to set up its new international business headquarters in the city.

YTO Express’ decision to use Hong Kong as a springboard to become the leading Chinese courier outside the country follows its purchase of a majority stake in On Time Logistics (OTEL), which is listed in the city.

“Without Hong Kong, it is difficult for Chinese mainland companies to realize globalization,” said Yu Weijiao, chief executive of YTO Express, on Tuesday. “The headquarters for YTO’s international business will be in Hong Kong.”

The Alibaba-backed express delivery firm, which carried out a back-door listing in Shanghai last year, has set its sights on international expansion with the purchase of 61.87 per cent stake in Hong Kong-based On Time Logistics.

“Acquiring OTEL gives us much easier access to expand our overseas business than building the networks by ourselves,” said Yu. “OTEL will be the sole platform for us to reach global markets in the foreseeable future.

Read more at http://www.scmp.com/business/companies/article/2094554/chinese-courier-yto-express-launch-global-expansion-new-hong-kong#qDzm01ITiebvVLEF.99
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