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Guangzhou's Guangdong Foreign Trade Group Company and Hong Kong's Grand Dragon Holdings have signed an agreement in principle aimed at developing supply chain management services on the mainland.
A company statement said that under the agreement the two will "spearhead development of state-of-the-art supply chain management services in China, especially in the Pearl River Delta region".
A Guangdong Foreign Trade Group spokesman said: "With the continual rapid growth of the Chinese economy, there is an increasing need for innovations in supply chain management in China, not only in the Pearl River Delta area but also in other regions.
"Improvements in supply chain management in China have become more feasible now due to the increasing sophistication of industry, rising consumer demands and a more conducive regulatory environment which encourages innovations."
The Grand Dragon chairman said: "There are so many opportunities, and we have started mapping out our strategy and drawing up our business plan. Our first effort will be to develop and enhance our abilities to cater to the chemical and automobile industries, as well as to develop warehousing services in the Nansha Bonded Logistics Centre."
Guangdong Foreign Trade Group is one of China's leading state-owned companies with a total asset of over CNY10 billion (US$1.30 billion) and is ranked 89th in the top 500 enterprises in China. It was established in 2000 with the merger of several top foreign trade enterprises in Guangdong province. Apart from foreign trade, the group is also active in logistics, investment and construction.
Grand Dragon Holdings is an integrated transportation and logistics services provider active in NVOCC, international freight forwarder, trucking, warehousing, coastal feeder operations and container storage and maintenance and repair.
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