UPS abandons Hong Kong for Shanghai
United Parcel Service (UPS), one of the world’s top 500 companies, is to move its Asian regional headquarters from Hong Kong to Shanghai, state press said Friday. The move is primarily due to an increasing number of clients on the Chinese mainland, the Shanghai Daily reported, quoting Perry Chao, UPS’ China senior vice-president. “With many of our customers, especially electronics companies, setting up plants in the Yangtze River delta, we found this region contributed a significant share to the growth of our China revenue,” Chao said.
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