On August 31, China Post Group Corporation Limited (China Post) signed strategic cooperation framework agreement with Guangzhou Automobile Group Co., Ltd (GAC Group). Both sides will give full play to their respective advantages in resources, business and services to establish strategic partnership and carry out in-depth cooperation in such fields as market development and services, vehicle procurement and employee car purchase, financial cooperation, express logistics and mobile travel.

In accordance with the principle of “resource sharing, mutual complementarity, win-win cooperation and mutual development”, the two parties signed the strategic cooperation framework agreement, aiming at establishing a long-term strategic partnership based on their respective core competitiveness and better promoting sustainable and healthy development of both sides through strategic cooperation. According to the agreement, in the area of market development and services, China Post will make full use of its resources and comprehensive services to carry out cooperation in micro car shows to help GAC Group expand its national market. The two parties will explore new retail solutions for auto network reaching down into lower tier markets and work together on service system co-construction, power battery service, brand promotion and customer maintenance. In the area of vehicle procurement and employee car purchase, the two parties will actively promote vehicle procurement cooperation in official travel, logistics transportation and personal travel. In the area of financial cooperation, the two sides will cooperate in credit financing, personal auto loan, strategic investment and mixed-ownership reform, and professional service of capital market. In terms of express logistics, both sides will further cooperate in documents and goods delivery, international freight forwarding, international warehousing, overseas distribution, import and export customs clearance at key ports and bonded logistics, and jointly explore cooperation opportunities such as after-sales spare parts logistics. In terms of mobile travel, GAC Group will provide customerized services for China Post.