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Wenzhou logistics industry speeds up

By Yu Xiaoming (chinadaily.com.cn)
Updated: 2006-10-31 08:46

Statistics from the Wenzhou Administration of Industry and Commerce show that since the beginning of this year two new logistics companies were established every day on average in Wenzhou, East China's Zhejiang Province. As of July 24, the number of newly added enterprises reached 440, the majority of which are private companies.

In recent years, the fast development of Wenzhou's light industry has driven the transportation of light industry products and raw materials. Meanwhile, as some multinationals and renowned retailers enter Wenzhou, fierce market competitions make it important for local enterprises to explore overseas markets.

Wenzhou Xinhua Logistics Co Ltd, controlled by China People Electric Appliance Group, plants to invest 50 million yuan in its network expansion, try to make itself a logistics giant.

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The full text is available in the October Issue ofLogistics China.