UPS, Fedex receive licenses to expand Chinese operations

|By:, SA News Editor

UPS (NYSE:UPS) and FedEx (NYSE:FDX) have received Chinese licenses to expand their domestic shipping services to Beijing and other cities without needing joint-venture partners. The licenses increase access to a market second in size only to the U.S., says consultancy Deloitte.

The companies have been waiting for years to establish independent courier operations over their Chinese operations, but a 2009 postal law largely restricted foreign firms from delivering packages from abroad.