Online packages from China can arrive faster

The Magyar Posta Zrt. establishes a Chinese-Hungarian joint venture company jointly with two Chinese logistics companies with a share capital of 3 million euros (900 million forints). The agreement was signed on Monday by the parties on the business forum of the Chinese Central and Eastern European Summit in Budapest – the Magyar Posta (Hungarian Post) told MTI.

According to the information, the joint venture has the opportunity to bring shipments from China faster to Europe and Hungary. It is planned that the first shipment will arrive to Hungary by the end of the first quarter of 2018 via the joint venture. The Chinese-European Supply Chain Zrt. joint venture is owned by the Magyar Posta Zrt., (35 percent), the ZTO Express (35 percent) and the Sanghai-based Ningbo Talents IT Co. Ltd. (30 percent). (penzcentrum.hu, MTI)