Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, September 24, 2014

China to free up domestic courier market, (NYSE: UPS)

China said on Wednesday it would allow qualified foreign couriers to deliver packages in its domestic market, potentially hotting up competition in a fast-growing business already marked by bruising price wars.The State Council, or cabinet, said it had decided to "fully liberalise" the Chinese market for parcel delivery and would let in foreign firms that met certain criteria, but gave no details of the conditions to be met.The measure will allow global players such as FedEx Corp , Deutsche Post's unit DHL, and the world's biggest courier company, United Parcel Service Inc, to compete in a market forecast to be the world's largest within two decades.China will also encourage mergers and acquisitions between companies and will improve the review process for deals involving foreign firms, the cabinet said in a statement on the government's website following a weekly meeting.

United Parcel Service, Inc. (UPS) is a package delivery company. Shares of UPS remained unchanged at $97.32. In the past year, the shares have traded as low as $88.45 and as high as $105.37. On average, 2555780 shares of UPS exchange hands on a given day and today's volume is recorded at 0.