Supply chain unicorn in Qianhai resumes operation within 4 days

Writer: Chang Zhipeng, Tan Yifan  |  Editor: Stephanie Yang  |  From: Shenzhen Daily  |  Updated: 2022-03-30

YH Global, a Qianhai-headquartered supply chain unicorn company, which resumed normal operations after four days of temporary “pause” in response to the city’s anti-epidemic measures, expressed its confidence in realizing further achievements in Qianhai, as the company is enjoying a new set of supportive policies released last week by the municipal government and Qianhai authority.

On March 17, YH Global was recognized by the Shenzhen Municipal Transport Bureau as one of the key supply chain companies responsible for transporting supplies to Hong Kong, which allowed it to resume work ahead of the city’s decision to lift its weeklong COVID restrictions March 21.

Since its establishment in Qianhai in 2012, YH Global has set up seven major logistics bases in China and 82 secondary bases at home and abroad, including China’s Hong Kong and countries such as Vietnam, Indonesia, and the U.S.

“One of our company’s secondary bases is located in the Qianhai Comprehensive Bonded Zone, which mainly deals with businesses and goods transportation with Hong Kong,” said Su Baoyin, general manager of YH Global. “We also have a warehouse in Hong Kong, through which the company expands its freight forwarding and transportation services to the world.” 

According to Su, YH Global’s revenue and total trade volume in 2021 reached 10.16 billion yuan (US$1.66 billion) and US$9.06 billion, respectively. Su attributed their rapid growth not only to Qianhai’s geographical advantage of being close to Hong Kong, but also to the area’s favorable business environment.

“Last Friday, the Shenzhen government and Qianhai authority simultaneously rolled out a series of relief measures to help companies overcome the impact brought by the recent wave of pandemic,” Su said. “The measures, such as postponing or reducing social insurance premiums and implementing a favorable corporate and individual income tax rate, are helpful to solve companies’ actual needs. In addition, the policies are easy to comprehend, and the application procedures are convenient,” Su added.

According to Su, YH Global is part of the first batch of companies that settled in Qianhai. The company has grown in the area and experiences its open and innovative business environment.

“We faced this wave of the epidemic positively and we are confident of our development in Qianhai. We will continue to keep the same momentum when dealing with future opportunities and challenges,” he said.