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Billions Invested in First Logistics Hub in Beijing
A Hon Kong company and a Beijing city government-sponsored company based in Hong Kong will jointly invest 11 billion yuan (1.3 billion US dollars) to build a logistics hub in Beijing, sources said.
The HK company is Kerry Logistics Network Limited, a member of the multinational Kuok Group based in Hong Kong.
The 350-hectare hub will be located in southeast Beijing, between the city's fourth and fifth ring roads and near expressways and railways. It can handle 300,000 standard containers annually after it is completed, according to sources.
Beijing now has 7.7 million square meters of storage space. The city is home to China's largest road and railway traffic networks.
About half of logistics enterprises in Beijing engage in inter- regional or inter-national logistic business, statistics show.
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