Wang Mingcheng, president of China ZhengTong Auto Services Holdings Ltd's board of directors, met Liu Ziqing, secretary of the Wuhan Economic & Technological Development Zone working committee, on Oct 12. The two sides agreed to establish a new project along with its supporting facilities in the zone.
China ZhengTong Auto Services Holdings Ltd, a leading domestic automobile 4S dealership group, is involved in luxury and second-hand vehicle sales, supply chains, auto finance, and comprehensive property management. The company ranks 13th in China in this field according to statistics collected in 2020.
The two sides had already established cooperation partnerships in port logistics. The new established logistics base project will settle in the Port Logistics Park of the zone, with a total ionvestment of 1.72 billion yuan ($258 million). The base is expected to offer the throughput capability of 800,000 vehicles annually, and offer nearly 300 jobs for local residents.
