YTO to build Zhejiang hub

Chinese parcels carrier YTO Express is to build a 5 billion yuan ($735 million) logistics hub in Zhejiang, according to a report in the China Economic Review.
The carrier, which aims to become the largest international courier in mainland China by 2020, recently acquired a majority stake in Hong Kong-based On Time Logistics (OTEL).
It has also entered into a new Global Parcel Alliance with a number of other couriers in other parts of the world, including  Turkey, UAE, South Korea and Japan, according to reports.