CIMC Logistics inks strategic investment deal with leading player in Latin American route to forge an initial global strategic layout

On January 17, the signing ceremony for the strategic investment of CIMC Logistics Segment into Delfin GROUP (HK) Co., Ltd. (hereinafter referred to as "DELFIN GROUP") was held in Shenzhen. Hu Pengfei, Managing Director of CIMC Logistics, and Zhang Jing, Partner and Chairman of DELFIN GROUP attended the ceremony. Dai Hao, General Manager of Strategic Development Department, CIMC Logistics, and Jiang Haizhou, Partner and Chief Financial Officer of DELFIN GROUP, signed the Strategic Investment Agreement on behalf of both parties.

Through which, the two parties are expected to rapidly establish a business volume of nearly 200,000 TEU per year for the Latin American route, and offer comprehensive life-cycle logistical solutions from the departure ports of China and Southeast Asia to the Port of Destination in major Latin American countries. This move will also help CIMC Logistics further improve its route service capacity in Latin America and enhance its global route strategic layout.

China is the second-largest trading partner to the Latin American region, while Latin America is also one of the regions with the fastest growth rate of exports to China in the world. Under the "Belt and Road" Initiative, China has been accelerating its pace for investment in Latin America. It was reported that in 2020 China's investment in Latin America accounted for about 10% of the total foreign investment in the region, the highest level in recent ten years. At present, many Latin American countries have signed the cooperation agreements with China to jointly build the "Belt and Road" Initiative, where economic and trade ties between the two sides have been continuously strengthened, making Latin America become an emerging market with great prospects in the future.