UPS, Fedex get approval for express services in more Chinese cities

Discussion in 'The Latest UPS Headlines' started by cheryl, Aug 14, 2014.

  1. cheryl

    cheryl I started this. Staff Member

    UPS, Fedex get approval for express services in more Chinese cities - Reuters

    After years of waiting, United Parcel Service Inc. and FedEx Corp have received licenses in China to extend domestic express package services to Beijing and other cities without needing joint-venture partners.

    The U.S. companies had been waiting for permission to independently courier packages from businesses to consumers (B2C) via their entire Chinese networks, since a 2009 postal law largely restricted foreign firms to delivering packages from abroad.

    The licenses increase access to a market second in size only to the United States. Thanks to online shopping, the Chinese market is growing 60 percent annually and next year could be worth 280 billion yuan ($46 billion), said consultancy Deloitte.