Courier firms rush to seize opportunities

Courier service companies on the Chinese mainland said they are speeding up their global expansion in order to seize opportunities arising from the Belt and Road Initiative.

Shanghai-based YTO Express Group acquired a controlling stake in Hong Kong-listed On Time Logistics Holdings this month, it said, to tap into the Hong Kong firm's extensive international network.

Chairman and President of YTO Yu Weijiao told a recent news conference in Hong Kong that the courier service company partnered with On Time for its established global footprint. On Time has branch offices in 17 countries and has 52 operating centers across the globe.