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HANGZHOU: July 31 2018. The official China news agency Xinhua reports Shanghai courier YTO Express is to build an US$1.8 billion logistics hub at Jiaxing Airport in northern Zhejiang province, China.

Construction of the project’s first phase covering 80 hectares at a cost of US$1.03 billion will begin later this year. Jiaxing is approximately 90 kilometres between Shanghai and Hangzhou.

YTO ExpressThe hub is expected to open in 2021 and support 50 freighter aircraft with an annual throughput of 1.1 million tonnes by 2030. Xinhua says it will be YTO's global operations base, research and development centre.

By 2050 air cargo and mail capacity at Jiaxing is expected to reach 2.4 million tonnes.

YTO will also use rail, road and water transport infrastructure in Jiaxing to boost its logistical capacity in the Yangtze River Delta area, according to company chairman Yu Weijiao.

In June Alibaba Group’s logistics subsidiary Cainiao Network announced it is the lead investor of a group funding a new US$1.5 billion logistics centre at Hong Kong International Airport.

Cainiao is setting up a joint venture with YTO Express and China National Aviation Corporation with respective shareholdings of 51 percent, 14 percent and 35 percent.

Scheduled to open in 2023, the Hong Kong logistics centre will have a floor area of 380,000 square meters and include a sorting, processing and fulfillment facility featuring automated warehousing technology and automated temperature control.

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