May 31, 2017
Connect Industrial is heading to Chicago, June 28th. Here’s where to get more details and register.
UPS and SF Holding, the parent company of China’s SF Express, formed a joint venture envisioned to capture more deliveries from mainland China to the U.S., as demand surges from China’s booming e-commerce sector.
UPS Asia Pacific’s Ross McCullough said, “Our combined efforts will result in new logistics products and services to simplify and accelerate B2B and B2C customers’ cross-border trade.”
UPS, which saw its business in China grow 30% in Q1, offers a global network primarily used by medium and larger-sized companies. When paired with SF Express’ vast express delivery network of smaller merchants across China, the partnership will give Chinese businesses and individuals new delivery options.
Based in Hong Kong, near SF Express’ Shenzhen base, the company plans to operate in mainland China. UPS and SF Express will each contribute $5 million in capital to establish the company. The deal is pending regulatory approval.
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