The Bank of China Group Investment, a Bank of China subsidiary, and the HOPU Funds investment institution are among the Chinese investors. Ming Z. Mei, Co-founder and CEO of GLP, notes that the increased demand of logistics is explained also by the fact that Chinese companies own outdated logistics which need modernization.
Judging by GLP’s opinion, logistics expenditures sum up to 18% of China’s GDP, double to that of developed countries like the US and Japan. The company’s facilities portfolio is strategically located across 63 cities, forming a logistics network serving more than 700 customers. GLP’s portfolio has grown at a 67% compound annual growth rate since fiscal year 2005, and today incorporates 8.7 million sq m (93 million sq ft) of functional facilities.
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