Business
DHL Rides the Wave of China’s Robust Exports: Plans Million-Dollar Expansion to Meet Anticipated Holiday Demand Through 2024
DHL capitalizes on China's robust export growth with massive new investments. The freight forwarder plans to broaden its operations, given that China's impressive export numbers imply that the holiday season will sustain the industry until 2024.
DHL, a freight forwarding company, predicts a boost in exports from China, which will lead to a significant increase in transportation and cargo handling during the last months of 2024. This forecast was made while announcing their multi-million dollar investment plans for the end of the year, based on China's economic data.
The company, owned by Germany, anticipates a significant surge in exports from China to the rest of the world during the upcoming peak, according to a statement they issued on Thursday.
DHL announced its intention to allocate €100 million (equivalent to US$110.3 million) globally during the last quarter, in preparation for a surge in deliveries.
"The last quarter typically marks the height of the season, aligning with the Western holiday period," stated Jayant Menon, a senior associate at the ISEAS-Yusof Ishak Institute based in Singapore.
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