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China approves FedEx, UPS courier service operations

August 14, 2014

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FedEx Corp. and United Parcel Service Inc. have received government approval to expand domestic express services in China, according to a news report.

Memphis-based FedEx (NYSE: FDX) and Atlanta-based UPS (NYSE: UPS) have been seeking licenses to deliver packages in more Chinese cities, including Beijing, since China restricted foreign firms to international deliveries in 2009, Reuters reported today.

That opens up a fast-growing market that will next year be worth the equivalent of $46 billion, second in size only to the U.S., the report said.

FedEx has added 21 licenses, which allows domestic express within a single city and between other cities it has licenses for, bringing its total back to the 58 it had before the 2009 law went into effect, according to the report. FedEx has been able to operate domestically before now, but only through joint ventures with China-based firms.

http://www.bizjournals.com/memphis/news/2014/08/14/china-approves-fedex-ups-courier-service.html

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