Arms of CRC, SF form cargo venture

A subsidiary of railway operator China Railway Corp has formed a joint venture with an arm of package delivery firm SF Holding to expand its logistics presence and boost mixed ownership reforms.

The joint venture, which was announced on Wednesday, is also seen as a major achievement in optimizing the country's freight transportation structure.

China Railway Express Co Ltd, the bulk cargo delivery arm of CRC, will hold a 55 percent stake in CR-SF International Express Co Ltd, the new venture, while the rest will be held by an affiliate of Shenzhen-listed SF Holding.