Hong Kong, June 27 -- ZTO Express has joined other Chinese logistics providers in setting up its own air cargo unit, Zhongtong Aviation, based in Changsha in Hunan province. Read More It is funded with start-up capital of CNY600 million (US$83 million), Yicai Global reports. In recent years, several Mainland logistics firms have established air cargo subsidiaries. Among them are SF Express, China Post Group, JD Logistics and YTO Express Group. Since 2020 fewer Mainland international passenger flights have reduced cargo hold capacity. At the same time, strong demand for medical and pandemic-related supplies has driven up China's air freight rates. "The rapid development of the domestic express delivery sector has prompted couriers to set up ...