TU-TESL

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On December 9, Shanghai Automobile Group Co., Ltd. (hereinafter referred to as "SAIC Group") and China Post Group Co., Ltd. (hereinafter referred to as "China Post") formally signed a strategic cooperation framework agreement in Shanghai. The two sides will cooperate in the fields of vehicle procurement and vehicle operation, finance, express logistics and market development, aiming to develop new businesses and jointly expand new markets. In terms of vehicle procurement and vehicle operation, SAIC Group plans to provide China post with new energy products, traditional energy products and other customized products such as model, model and battery model, so as to meet the diversified needs of official travel, logistics and transportation, personal travel of employees, vehicle operation, etc. both sides also plan to jointly promote the application of new energy and intelligent vehicles. In terms of finance, the two sides plan to carry out cooperation and exploration in the wholesale business of corporate credit, trade finance, bill business, auto finance, auto dealer financing, industrial fund, personal auto loan, investment banking and other fields. In terms of express logistics, China Post plans to provide SAIC with international delivery, international freight forwarding, international warehousing, overseas distribution services, import and export customs clearance services at key ports, as well as bonded logistics services in some bonded areas. In terms of market development, China Post plans to make use of multiple resource advantages and supporting comprehensive services, such as outlets, media, customers, products, data and partners, to help SAIC Group expand its market nationwide. SAIC Group is one of the domestic automobile giants. Its main vehicle enterprises include passenger vehicle companies, commercial vehicle companies, Shanghai, Shanghai GM, SAIC GM Wuling, Nanjing Iveco, SAIC Iveco Hongyan, Shanghai Shenwo, etc. Founded in 2007, China Post's business covers three parts: Post business, express delivery logistics business and financial business, mainly including domestic and international mail delivery, publication distribution of newspapers and magazines, postal exchange, postal savings, postal logistics, stamp distribution and other specific businesses. Up to now, China Post has built 54000 self operated postal outlets.