UPS to Move Its Regional Headquarters to Shanghai

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Last updated at: (Beijing Time) Friday, July 04, 2003

UPS to Move Its Regional Headquarters to Shanghai

United Parcel Service (UPS) of America, one of the world's top 500 companies, will move its regional headquarters from Hong Kong to Shanghai.

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United Parcel Service (UPS) of America, one of the world's top 500 companies, will move its regional headquarters from Hong Kong to Shanghai.

Perry A Chao, an executive for UPS operations in greater China, said that along with China's improved capabilities in the manufacturing sector, the demand for high value added products that require fast delivery had been soaring, which had brought huge business opportunities for air cargo service.

Export business volume has risen above 35 percent since 2001 when UPS inaugurated direct air service between China and the United States, and the company's China business volume rose by 45 percent last year, much higher than the growth rate in other Asian countries and regions, said Chao.

He said Shanghai was chosen as the new site for the regional headquarters because of its good investment environment and increasingly improved infrastructure.

Chao said the new headquarters would be responsible for business planning and development on the Chinese mainland, Hong Kong, Macao and Taiwan.

After the regional headquarters is moved, Shanghai will become a center of logistics for UPS in greater China.

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