China Post Achieves Fastest Profit Growth in Five Years

The Universal Postal Union celebrated the World Post Day 2021 virtually on October 8 with the theme “Innovate to Recover.” In his speech on World Post Day, Liu Aili, chairman of China Post Group Corporation, said the company saw rapid profit growth during the first eight months this year.

From January to August, revenue of the SOE was 9.37 percent higher than last year, and its profits exceeded 21.94 percent, a new five-year high, said Liu.

Over the past year, the state-owned postal service provider implemented a three-year action plan to remodel itself, rolling out measures to enhance its corporate governance and market-based operation mechanisms, improve service quality, and service in rural areas with a three-tier logistics system at the county and rural levels.

Going forward, China Post will promote the separate operation of universal services and competitive ones as a way of deepening reform. The SOE plans to continue deepening reforms on its express delivery and logistics services while building a comprehensive platform providing multiple services like e-commerce, delivery, and finance.