1、A 2023 Fitch China Research Initiative PublicationCHINA LOGISTICS SECTORBLUE BOOK Copyright 2023 Fitch RatingsSeptember 2023A Fitch China Research Initiative PublicationAll rights reserved.No part of this publication may be reproduced,transmitted in any form or by any means,electronic,mechanical,pho

2、tocopying,recording or otherwise,without the prior permission of Fitch Ratings Limited.Fitch Ratings ChinaUnit 02-2&03,10/F,Fortune Financial Center5 Dongsanhuan RoadChaoyang DistrictBeijing,China100020Fitch Ratings China3401,34/F,Shanghai TowerNo.479,Lujiazuihuan RoadPudongShanghai,CA 2023 Fitch Ch

3、ina Research Initiative PublicationFitch Ratings opened its mainland office in Beijing in 2005,making it the first international ratings agency to operate in China.Today the agency has offices in Beijing and Shanghai,and continues to rapidly expand its mainland analytical presence.In mid-2014,Fitch

4、created a separate research team of Mandarin-speaking analysts,based in its offices in China,with a remit to produce world-class objective and insightful research on corporate sectors in China.This research focuses on helping to educate and familiarise investors with the key credit aspects of corpor

5、ate sectors that are unrated,or that consist of just a few rated entities.The potential that a fully liberalised financial landscape in China represents for global investors is beyond compare.Fitch feels that full liberalisation is unlikely to be completed in the immediate future,as China continues

6、to open up and play an ever-more important role in the global economy,while its corporate sectors will produce an increasing number of entities issuing international bonds.In this respect,we have already seen serious global investors starting to devote considerable effort in understanding and famili