United Parcel Service (UPS.NYSE) and FedEx (FDX.NYSE) have finally received licenses in China to extend domestic express package services Reuters reported, citing UPS and FedEx spokesmen. The US companies had been waiting for permission to independently courier packages from businesses to consumers via their entire Chinese networks, since a 2009 postal law largely restricted foreign firms to delivering packages from abroad. UPS and FedEx received 33 and 21 licenses respectively which were approved by the government in May. Each license permits the holder to operate domestic express package services within a single city and between cities for which a license is also held.
Categories