China's Transportation Company Joins Hands with Greyhound

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Last updated at: (Beijing Time) Tuesday, October 22, 2002

China's Transportation Company Joins Hands with Greyhound

The New National Express Group Co. Ltd, a trans-provincial expressway transportation company in China, signed a group of contracts Monday in Beijing with Greyhound Canada Transportation Corp.

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The New National Express Group Co. Ltd, a trans-provincial expressway transportation company in China, signed a group of contracts Monday in Beijing with Greyhound Canada Transportation Corp.

The two companies will join hands for transportation development of the road network in China. This is the first cooperation between the two sides.

Specifically, their cooperation will target management skills and transportation of small goods as well as international and domestic tourists. China will import advanced technologies from Canada, such as the ticket selling system and the security management network.

Wang Yongli, chairman of the board of New National Express Group, told the 2002 China Road Transport Development Forum Monday that compared to developed countries, China still has a long way to go in technology innovation of road transportation. The cooperation with Greyhound is conducive to promote technological development of road transportation in China and absorb the advanced technology and management skills of developed countries.

Roger Pike, senior vice president of Greyhound Canada, told the forum that the geographic size of Canada and China is almost the same. With 73 years of experience and lessons, Greyhound is willing to begin an enduring cooperation between Canada and China in the field of road transportation.

The Shenzhen Branch of the Bank of China also signed a contrac twith the New National Express Group Co., Ltd Monday, to provide 500 million yuan (60.5 million US dollars) for the company's development.

Established in Toronto in 1928, Greyhound Canada covers the road transportation business in all of North America and enjoys a large share of the North American market for its advanced technologies and management skills.

The New National Express Group, established April 20, 2001, is the only company approved by the Ministry of Communications for trans-provincial and trans-regional express transportation business. It is also a pilot company in China for the large-scale development of road transportation through intensive operations on the road network. The company has set up subsidiaries in coastal cities of east China. Currently, it has more than 300 luxury buses and 90 routes for passenger transportation.

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