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The Latest UPS Headlines
UPS, Fedex get approval for express services in more Chinese cities
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<blockquote data-quote="cheryl" data-source="post: 1384553" data-attributes="member: 1"><p><strong> <a href="http://www.reuters.com/article/2014/08/14/us-united-parcel-fedex-china-idUSKBN0GE0JQ20140814?type=companyNews" target="_blank">UPS, Fedex get approval for express services in more Chinese cities - Reuters</a></strong></p><p></p><p>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.</p><p></p><p>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.</p><p></p><p>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.</p></blockquote><p></p>
[QUOTE="cheryl, post: 1384553, member: 1"] [B] [URL='http://www.reuters.com/article/2014/08/14/us-united-parcel-fedex-china-idUSKBN0GE0JQ20140814?type=companyNews']UPS, Fedex get approval for express services in more Chinese cities - Reuters[/URL][/B] 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. [/QUOTE]
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