China Chaintek United Co., Ltd Update on Government Policy re. Logistics Sector

TIDMCTEK

China Chaintek United Co., Ltd

03 October 2014

 
 Press Release   3 October 2014

China ChaintekUnited Co., Ltd

("Chaintek" or the "Group")

Update on Government Policy re. Logistics Sector Development

Chaintek (AIM: CTEK), the provider of logistics services to manufacturers of consumer goods in China, is pleased to provide an update on the development of PRC state government policies in regards to the development of the logistics sector in China.

The Ministry of Commerce of the People's Republic China has published a range of suggestions on 24 September 2014 on how to achieve the objectives set out by the State Council in the 2014 "Long Term Planning for Logistics Market" report. Collaboration between e-commerce companies and logistics companies, encouraging development of one-stop-services in the logistics sector, land rebate policies, improving information flow in the country and, improving transportation network have all been identified as solutions to strengthen the logistics sector in China.

Xu Meijin, Chief Executive Officer of Chaintek, commented: "We are pleased to see that guidelines have been made by the national government of China on implementing its long term strategy to strengthen the logistics sector. These guidelines are likely to push forward local governments' effort in collaboration with logistics companies. As a modernised logistics firm committed to providing one-stop logistics services, Chaintek anticipates benefiting from these related government policies. This will provide Chaintek with good foundations to further expand and diversify our business."

- Ends -

For further information:

 
 China Chaintek United Co., 
  Ltd 
                                            +65 9227 8485 
 Derrick Wong, Finance Director         +86 159 8597 3034 
 
 Daniel Stewart & Co 
 Paul Shackleton / Harrison 
  Clarke                             +44 (0) 20 7776 6550 
 
 Abchurch Communications 
 Henry Harrison-Topham / Quincy 
  Allan                              +44 (0) 20 7398 7714 
 chaintek@abchurch-group.com       www.abchurch-group.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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