China Post records fastest profit growth in five years

BEIJING - The China Post Group Corporation has reported rapid profit growth during the first eight months of the year, said Liu Aili, the group's chairman.

The state-owned postal service provider saw its profit expand 21.94 percent year on year in the January-August period, a new high in five years, Liu said in his message to the World Post Day. It is an event celebrated each year on October 9.

Revenue of the company expanded 9.37 percent from a year ago during the period, Liu added.

Over the past year, the postal giant implemented a three-year action plan to remold the state-owned enterprise, rolling out measures to enhance its corporate governance and market-based operation mechanisms, improve service quality, and beef up circulation in rural areas.

Moving forward, the company plans to continue deepening reforms on its express delivery and logistics services while building a comprehensive platform providing multiple services like e-commerce, delivery, and finance.