RMB500 mln to be invested in BRI cross-border commodity supply chain base by Shanghai Ace

Shanghai Ace Investment & Development Co., Ltd. (Shanghai Ace, 603329.SH) recently announced that its subsidiary Lianyungang Asia-Europe Belt and Road Supply Chain Base Co., Ltd. plans to build a new Belt and Road cross-border commodity supply chain base project.

The company is to build the high-end temperature control warehouse, cold storage, and professional warehouse to meet processing requirements with a total investment of 500 million yuan, of which 340 million yuan will be invested in fixed assets.

According to Shanghai Ace, the company can make use of the advantages of Lianyungang's new Eurasian land bridge to create convenient and efficient commodity element supply channel with enterprises in the Belt and Road countries and regions, and further enhance the company's competitiveness in international business.