UPS to increase China presence

United Parcel Service, one of the world’s largest package shipping firms, wants to set up a domestic service in China and is awaiting approval from the State Post Bureau. If the regulator approves the company’s plans, UPS will introduce a next-day delivery service and second and third-day delivery products in China.
UPS said the Chinese market could be as large as 5 million packages a day. In 2009 UPS delivered about 1.2 million packages a day in its international-domestic segment, generating US$2.1 billion in revenue.
Benzinga reports the Chinese shipping market may be worth up to US$9 billion a year by some estimates. UPS and rival FedEx are moving to expand their logistics businesses in Asian markets, including China and Singapore.