Fedex to target 100 more Chinese areas within 5 Years
FedEx Corp has targeted expansion into 100 more Chinese towns and cities within five years reported FedEx’s domestic general manager.
Zhong Guoyi said inland cities would be included in the company’s Chinese logistics web, with each one being incorporated into the company’s global air cargo network.
FedEx expanded its China services to a total of 220 cities five years ago, the newspaper reported, but apart from large inland cities such as Xi’an, Chongqing and Chengdu, internal areas have been largely overlooked by the US firm and other global logistics giants.
Eighty pct of outbound logistics business in China is currently handled by four multinational courier firms — FedEx, TNT Holdings BV, United Parcel Service Inc (NYSE UPS) and Japan’s OPS, the newspaper said.
Foreign delivery companies are currently permitted to hold a maximum 75 pct stake in a Sino-foreign logistics firm, and are also allowed to establish solely-funded companies in China, the China Business Weekly said.
