BUSINESS China's ZTO Express hits parcel milestone in May

BUSINESS

China's ZTO Express hits parcel milestone in May

Xinhua

08:35, June 04, 2019

NEW YORK, June 3 (Xinhua) -- ZTO Express, a fast-growing express delivery company in China, announced on Monday its parcel volume of May exceeded 1 billion, a fresh monthly record in its corporate history.

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File photo: VCG

Driven by the development of new technology and a deeply experienced management team, ZTO's network is creating greater economies of scale as it shifts from quantitative to more qualitative growth, said the company in a statement.

"Parcel volume of 1 billion is equivalent to the industry's total parcel volume in 2006 or our total parcel volume in 2013, which is a significant achievement," said Lai Meisong, founder and chief executive officer of ZTO, adding that his company is aimed to generate high-quality growth, empower its network partners, and drive the industry forward.

The fresh milestone followed another record starting in March this year with daily parcel volume reaching 30 million, according to the company, which was listed on New York Stock Exchange in 2016.

Founded in 2002, the Shanghai-based company provides express delivery service as well as other value-added logistics services through its extensive nationwide network in China.

Both a key enabler and a direct beneficiary of China's fast-growing e-commerce market, the company has established itself as one of the largest express delivery service providers for millions of online merchants and consumers across the country.

China's express delivery industry has witnessed rapid growth in recent years, buoyed by its booming e-commerce sector.

Chinese delivery firms handled a total of 50.71 billion parcels in 2018, up 26.6 percent from the previous year, while total business revenue grew 21.8 percent year-on-year to 603.84 billion yuan (89.83 billion U.S. dollars), data from the State Post Bureau showed.

The country has remained the world's largest express delivery market for five consecutive years, accounting for more than half of the global express delivery market, the bureau said.

The NYSE-listed company ended Monday flat at 18.04 dollars apiece. 

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