HNA's Grand China Logistics Holding Co. arm has been accused by vessel-charting companies in Norway and Greece of withholding payments.
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It launched its Vietnamese website last September, its first foreign foray and a test for its ability to run logistics and marketing outside China.
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In addition, because no other country can replicate the massive scale of China, logistics will become a larger part of costs as companies are forced to slice up their manufacturing over several countries, analysts say.
The PMI fell to 38.8, from 44.6 the month before, the China Federation of Logistics and Purchasing said Monday.
Growth in China's manufacturing picked up in March, according to a survey by the China Federation of Logistics and Purchasing.
Warburg Pincus has also made investments in China's logistics sector, which the private-equity company sees as a way to benefit from rising domestic consumption.
When asked to identify three locations and real-estate sector combinations, investors pointed to industrial and logistics real estate in Greater China as the second most appealing sector, behind the office market in Australia.
Even if they could, it does not make good business sense to export large numbers of vehicles from the U.S. to China because of the costly logistics involved.
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Australian-listed property developer Goodman Group, which first invested in warehouses in China in 2009, has 12 logistics projects, mainly in Shanghai and nearby cities, as well as in the Bohai Bay region.
The logistics sector, a segment of industrial real estate, is also seen as another way to tap into China's growing consumer class.
Also in Hong Kong, China's largest shipping company China Cosco Holdings fell 5.3% after the company announced that it plans to sell its logistics unit to its state-owned parent.
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