Singapore-based real estate logistics heavyweight GLP has garnered over $4 billion for its China logistics funds in November alone, even as the country’s zero-COVID policy is hurting international trade and the logistics sector.
At a time when China’s exports and imports hit the rocks for the first time in more than two years in October, GLP has proved to be an outlier as its business concentrates on domestic consumption, which has profited heavily from the e-commerce boom in the country.