Molecular Data, a leading technology-driven platform in China's chemical industry, announced that it has reached a strategic partnership memorandum for a potential transaction, including a stake in a renowned Chinese logistics player with close to a decade of domain expertise.

In 2020, the chemical logistics business surpassed the USD50 billion mark and there are approximately 300,000 trucks being deployed in hazardous materials transportation.

The collaboration will deploy systems to accurately dispatch these trucks and such a strengthened logistics capability will address inadequacies in the transactions, as customers will be able to increase logistics efficiency and reduce costs.