CONTAINER

China forming new state-owned logistics company, China Logistics Group

Published 7. Dec 2021 5:12 PM

On Monday state broadcaster CCTV reported that China Logistics Group has been formally established as a state-owned entity with the purpose of being a more central organizer of the world supply chain

The news comes at a time where the global supply chain is under great pressure from the pandemic which has made it difficult for Chinese ports to keep up with the intense activity while keeping safety precautions. The new entity will be partially owned by COSCO Shipping, China Merchants Group, and China Eastern Airlines who will respectively own 7.3%, 4.9%, and 10%. With the new entity formed under a partial strategic partnership, it could lead the path of mergers and creative constellations within the global supply chain and ultimately leave the power with very few supply chain titans.

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