Shanghai YTO Express Co., Ltd signed a cooperation agreement with Wuxi National Hi-tech District (WND), to set up an aviation logistics base on April 28, according to wnd.gov.cn.

The base will cover about 300 mu (20 hectares) with the total investment of more than 1 billion yuan ($154 million). The annual turnover is expected to also reach up to 1 billion yuan.

The deputy director of the WND Administrative Committee, Feng Xiaochun expressed admiration at the signing ceremony. He said that considering the advantages of transportation and location of the Wuxi Airport Industry Park (A-Park) at WND, the cooperation with YTO Express would lead to win-win outcomes.

Yu Huijiao, chairman of YTO Express, outlined the corporation's development and the background of the aviation logistics project. He said that WND's industrial foundation, favorable location, efficient government service and business environment will assist and promote the development of the project.

Shanghai YTO Express is a large conglomerate which specializes in delivery, airline and e-commerce. At present there are 60 self-operated centers and more than 24,000 terminal outlets all over the country.