FedEx establishing presence in Sichuan

The Ministry of Commerce has officially approved Fortune 500 Company FedEx to set up a subsidiary in Sichuan province to engage in international express delivery. At the West China Investment Strategy Workshop with Multinationals in Jiuzhaigou in October 2005, FedEx China CEO Tian Changan expressed his confidence in the investment climate of Sichuan province and hope for stronger investment engagement with the province in a bid to extend the industrial chain and to develop modern logistics. Sichuan Commerce Office was quick to act on FedEx investment commitment. In March 2006, the office voiced its consent in a letter for FedEx to set up a subsidiary in Sichuan. The application was further approved by MOFCOM recently.