FedEx eyes China’s potential logistics market
FedEx Corp., the world’s largest air express transport company, is training eager eye on China.
Frederick W. Smith, founder, chairman, and CEO of FedEx, said on November 9 that the fast-growing Chinese market draws global attention at present, and the company had achieved great development in recent years thanks to the Asian market, especially China.
Therefore, FedEx aims to expand its business in the potential country. However, it has no intention to set up a wholly owned enterprises but joint ventures in the near future.
The U.S.-based company plans to set up its Asia Pacific distribution center in the new Baiyun Airport of Guangzhou, and the construction work is expected to be finished by 2008.
FedEx’s Guangzhou hub will be the company’s largest logistics center outside the United States.
The GDP in China and America accounts for 37% of the world’s total, and the increment of China’s GDP occupies 50%.
Meanwhile, the growth rate of China’s import and export businesses doubles that of global trading, a strong signal that the country’s logistic market has great potential.
From www.nbd.com.cn, Page 1, Friday, November 11, 2005 [email protected]
