On 23rd January 2017, COSCO Yuantong Operation Headquarters (“COSCO Yuantong”) signed a global logistics strategic cooperation agreement with 中遠海運航空貨運有限公司(籌)(tentatively known as “COSCO Air”) in Shanghai. Mr. Qiu Ming, General Manager of COSCO Yuantong, Mr. Liu Guoqi, General Manager of COSCO Air and other executive leaders attended the signing ceremony. The signing of the agreement signified that both parties have officially committed into a long-term comprehensive logistics strategic partnership.

According to the strategic cooperation agreement, COSCO Air will take charge of all the logistics businesses of COSCO Yuantong on a global scale. It will capitalize on the advantages of its network to provide the best quality, highly efficient and competitive global logistics services in the areas of air and sea express. COSCO Air will first undertake COSCO Yuantong’s logistics business in China, and then undertake its overseas logistics business gradually.

The business personnel of COSCO Air have settled in Yuantong Marine Trade (Shanghai) Co. Limited, a subsidiary of COSCO Yuantong. They have started learning the delivery and operating process of logistics business with China COSCO SHIPPING Corporation Limited (“COSCO SHIPPING”) step by step. In addition, COSCO Shipping Air has reached the overseas branches of COSCO Yuantong to learn the requirements and operating difficulties of logistics business in various regional companies, and formulate the specific ideas and solutions for cooperation. Meanwhile, COSCO Air assigned technicians to develop a special operating system to fit in the data of the Enterprise Resource Planning (“ERP”) system of COSCO Yuantong, so as to improve the efficiency and facilitate customers tracking the goods online.

With the deepening of cooperation, COSCO Yuantong and COSCO Air will take a further step to fully implement the synergy effect, which will achieve resource sharing and mutual development, so as to make the best contribution to the development of COSCO SHIPPING.

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