Y3 Technologies and Chongqing Transportation Holdings Group Sign Joint Venture Agreement to Strengthen Logistics Industry in Western China
The agreement will bring together both parties’ combined operational expertise, wide market reach and cutting-edge IT capabilities to transform Western China’s logistics ecosystem.
Singapore, 14 December, 2016 – Y3 Technologies, Singapore’s logistics and supply chain solutions leader, has entered into a joint venture agreement with Chongqing Transportation Holdings Group, China’s leading Logistics Company to accelerate the logistics industry’s growth in Western China. The joint venture will bring together Chongqing Transport Group’s operational expertise and wide market reach, coupled with Y3 Technologies’ cutting-edge IT capabilities to transform Western China’s logistics ecosystem, with a focus in Chongqing.
The signing ceremony was held last week in Chongqing in the presence of: industry leaders from China-Singapore (Chongqing) Demonstrative Initiative on Strategic Connectivity Administrative Bureau including Han Baochang, General Manager of Chongqing Transport Holdings Group – Zhang Guo Hua, Divisional Director, Chongqing Connectivity Initiative (CCI) at International Enterprise Singapore – Gordon Tan, Chairman of Y3 Technologies – Dr. Robert Yap and CEO of Y3 Technologies – Marc Dragon.
The joint venture is facilitated under the Chongqing Connectivity Initiative (CCI), Singapore’s third Government-to-Government (G2G) collaboration with China, and is supported by International Enterprise Singapore and Chongqing Transport Bureau.
“We are looking forward to leveraging this joint venture with Chongqing Transportation Holdings Group to help companies in Chongqing and the Western Region of China to leapfrog in the areas of supply chain technology adoption and Big Data Analytics. Through this partnership, we aim to jointly enable Chongqing as an integrated multi-modal hub, directed at deepening regional and international transportation connectivity in Western China. This collaboration also holds tremendous significance with respect to China’s “One Belt One Road” initiative and will help to further strengthen China’s logistics ecosystem” said, Marc Dragon, CEO of Y3 Technologies.
Zhang Guo Hua, General Manager, Chongqing Transport Holdings Group, said, “The depth of collaboration between the two companies will allow for the exchange of our resources and technological expertise. This will ultimately help to promote digitalization among logistics enterprises in Chongqing, aligned with our nation’s One Belt One Road Initiative. “
Through the CCI and China’s “One Belt One Road” Initiative, Y3 Technologies is working towards enhancing international connectivity between China and ASEAN.
About Chongqing Transportation Holdings Group
Chongqing Transport Holdings Group (CTG) is a fully-owned comprehensive transportation enterprise, which was formed in 2014 by merging a number of state-owned land truck and water transportation enterprises. CTG is engaged in logistics and passenger transportation management and is the leading enterprise of the Chongqing traffic transportation industry. CTG’s business scope includes long-haul transportation, urban logistics, distribution, railway freight forwarding, barge transportation, transportation of massive products, passenger express and warehouse management.
For further information, please visit http://www.cqtransit.com/
For the feature in The Business Times, please visit: http://www.businesstimes.com.sg/transport/y3-technologies-chongqing-transportation-set-up-joint-venture