Five domestic and overseas enterprises announced the formation of an international express airway company providing domestic and internation flights at the Fourth China Aviation Finance Development Global Forum in Dongjiang area of Tianjin.

The new company, named Xingbang International Express Airway Corporation, was registered in the Dongjing Bonded Harbor Area of the Tianjin Pilot Free Trade Zone (Tianjin FTZ), with registration capital of 400 million yuan ($62.8 million).

The corporation will begin flying in the middle of 2016 after government approval . The investment from OK Air takes up most of the total registration capital. The corporation will mainly provide express shipping services to domestic locations and nearby countries driven.

The corporation will be issued with independent carrier qualifications and have its own badge, planes, and organization structure. The corporation plans to operate six small and medium sized cargo aircraft in the first year.

The corporation will provide third party shipping and charter flight services to domestic and international express companies. It plans to gradually expand its services to Europe and America in the future.