File photo: SF Holding’s freighters wait for loading at a airport. [Photo/China Daily]

The municipal government of Hangzhou signed a cooperation framework agreement with Shenzhen-listed SF Holding Co, one of China’s largest courier companies, on Aug 29.

According to the agreement, SF Holding will build its East China headquarters in Hangzhou. The new headquarters will be tasked with developing businesses related to supply chain, smart city, drone delivery, and other digital technologies.

Liu Jie, Party secretary of Hangzhou, said at the signing ceremony that Hangzhou has a strong e-commerce industry and an ideal business environment.

Wang Wei, chairman and founder of SF Holding, said the company will increase investment and contribute to the development of Hangzhou’s delivery sector.