Draft postal law could set foreign firms back

China's proposed postal law puts foreign couriers at a disadvantage to China Post, executives at UPS told the Financial Times. The firm is worried that China could unveil a 4% "universal tax" on foreign delivery firms. "We would look at that as a form of double taxation," said Ken Torok, UPS's Asia Pacific president. "We are just looking for a level playing field in the industry." Express delivery firms are also concerned over a draft of the law that gives China Post a monopoly on delivery of parcels weighing under 150 grams. The firm, along with DHL, Fedex and TNT – the world's "big four" couriers – have expressed reservations over drafts to the law.