China Post delivers top profits for 2nd straight year

BEIJING -- China's state-owned mail service operator has outperformed its global counterparts in profits for two years in a row, it told Xinhua Sunday.

The China Post Group Corporation raked in over 32 billion yuan ($4.8 billion) in profits in 2015 with a year-on-year increase of 12.6 percent.

Its revenues gained 8.1 percent to reach 437.6 billion yuan, second in the world.

The data were released as the group celebrates the 47th World Post Day, which was established to mark the anniversary of the Universal Postal Union's creation in 1874 and highlight the role of postal services.

China is home to the world's fastest growing postal market, with postal and delivery services leading the growth in the service sector, said Ma Junsheng, head of the State Post Bureau, in a speech commemorating the event.

China has achieved solid progress in re-balancing its economic structure from manufacturing and investment to services and consumption, with the service sector growing 7.5 percent in the first half of the year, accounting for 54.1 percent of the overall economy.

Authorities will guide local express couriers in their efforts to merge and restructure to create global powerhouses, Ma said.