Shanghai (ZXZC)- Hefei-based automaker JAC Group on March 22 signed a framework agreement with Sinotrans Limited, one of the largest logistics companies in China, to co-build a highly efficient modern automotive logistics service system by leveraging both parties’ advantageous resources.

JAC Group, Sinotrans signing agreement; photo credit: JAC Group

Under the agreement, two parties will carry out strategic cooperation on the domestic and global supply chain services, supply chain finance service, digital collaboration, smart logistics and vehicle procurement.

Sinotrans was incorporated in November 2002 and listed on Hong Kong Stock Exchange in 2003, according to the company's official introduction. As a second-tier subsidiary and only logistics platform for China Merchants Group (CMG), Sinotrans aims to build a world-class business platform for intelligent logistics services. It has formed three main business segments including agency and related business, supply chain logistics and e-business, so as to provide end-to-end supply chain solutions and one-stop services.

As a logistics service provider, Sinotrans will keep a eye on JAC Group's products, and its overseas subsidiaries will also work on promoting both parties' collaboration in overseas markets, said Song Rong, general manager of Sinotrans.

JAC Motors sold 34,250 new vehicles in February, posting a year-on-year hike of 196.54%. For the first two months, its auto sales zoomed up 86.45% from a year ago to 91,947 units. The Jan.-Feb. export volume shot up 116.73% to 11,151 units.