TransContainer, the biggest container operator in Russia, set up a branch company in Shanghai Tuesday, to cater for business in the logistic center under the Belt and Road Initiative.
The company, TransContainer Freight Forwarding (Shanghai) Co Ltd, has a registered capital of $1.2 million, said Egor Braginets, the general manager of the TransContainer Shanghai.
Located in Shanghai free trade zone, it will serve as TransContainer's headquarters in China, to develop the freight market in China and countries involved in the Belt and Road Initiative.
Founded in 2006, TransContainer was established by the railway companies of Russia, Kazakhstan and Belarus, all Belt and Road countries.
Braginets said the new company was a result of the Belt and Road Initiative, which marked a new era of China-Russia rail container transportation.
According to Braginets, TransContainer is planning branches in Chinese cities of Qingdao, Guangzhou, Chengdu and Chongqing.