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14 October 2016

China Logistics Billionaire Targets $1.2B Fund As Industry Faces Rapid Change

Eternal Asia Supply Chain Management of Shenzhen, led by China billionaire Zhou Guohui, is teaming up with one of southern China’s most successful capital management firms for new investment projects in a deliveries and logistics industry that is being reshaped by technology change and the Internet.


Shenzhen-listed Eternal said in a statement on Friday it will work with Shenzhen Capital Group to raise 8 billion yuan, or $1.2 billion, for supply-chain-related projects. Eternal will invest up to $257 million in the fund and Shenzhen Capital Group would invest up $121 million. They aim to raise the rest from other investors.


The global e-commerce delivery industry alone was worth $146 billion in 2015, led by Fedex and UPS, according to research firm TMR. The introduction of drones by Amazon and parcel copters will attract investment in newer technologies in the industry, TMR says.  China is the world’s No. 2 economy, and its logistics industry has good growth prospects, industry analysts say.


Zhou ranked No. 1067 on the 2016 Forbes Billionaires List with wealth of $1.7 billion.

Source: http://www.forbes.com/sites/russellflannery/2016/08/06/china-logistics-billionaire-targets-1-2-bln-fund-as-industry-faces-rapid-change/#2044a8f26b98