The Chongqing Transportation Holding Co.,Ltd was inaugurated Dec 29 in west China's Chongqing municipality. With assets of 4 bln yuan and annual revenue of 1.6 bln yuan, the group becomes the strongest and most influential enterprise for land and water transportation in western China.

According to Zhu Naihong, the Chairman of the board of directors, the group is a key state-funded enterprise under joint supervision of the State-owned Assets Supervision and Administration Commission of Chongqing Municipality and Chongqing Municipal Transportation Commission. The group is authorized to operate and manage state-owned assets in seven subsidiaries, i.e., Chongqing Highway Transportation Corp., Chongqing Automobile Transportation Co., Ltd, Chongqing Long Distance Transportation Co., Ltd, Chongqing Yunye Co., Ltd, Chongqing Steamship Company, Chongqing Passenger Liner Company and Chongqing Through Transportation Logistic company.

The group now possesses assets of 4 bln yuan and has annual revenue of 1.6 bln yuan; it owns 13,000 vehicles used for transportation, 329 ships (6 for maritime transportation), 46 cargo and passenger stations, 77 wharfs and ports and 40,000 employees. The group specializes in cargo and passenger transportation in land and water. Its network for cargo transportation covers the whole country, and passengers can be sent to 25 provinces, municipalities and autonomous regions in China; the water transportation can reach various rivers and seas.

Through invitation of investment, merger and acquisition, the group will widen cooperation with enterprises and investors home and abroad in a bid to forge a first-class modern transportation enterprise featuring concerted development in various industries including cargo transportation, modern logistics, operation of ports and wharfs.

By People's Daily Online