Enter multiple symbols separated by commas

FedEx Express to Offer Overnight Express in China

FedEx Express, a subsidiary of FedEx , will offer overnight domestic express service to 19 cities in China beginning May 28.

The new domestic services, to become fully operational in June, will also provide day-definite deliveries to more than 200 Chinese cities, FedEx said.

"We are well-positioned to capitalize on China's transition to a consumer economy through its rapidly growing middle class," Michael L. Ducker, president of FedEx Express International, said in a press release. "Our worldwide transportation network supports China's supply chains, which are driving long-term economic growth for the country."

FedEx will base its domestic Chinese operations at the Hangzhou Xiaoshan International Airport in eastern Zhejiang Province. The new hub will initially be able to sort up to 9,000 packages per hour, the company said.

Domestic carrier Okay Airways will provide air transportation, using three Boeing 737 jets.

Shares of FedEx, which entered the Chinese market in 1984, rose $1.34 to close at $112.48 on the New York Stock Exchange.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • CEO discuss the 'Buffett factor'

    John Stumpf, Wells Fargo chairman & CEO; Kenneth Chenault; American Express chairman & CEO; Ginny Rometty, IBM chairman & CEO; and Muhtar Kent, Coca-Cola chairman & CEO, discuss their relationships with Warren Buffett and marvel at just how easy it's been to communicate with him.

  • Rometty on Watson: He never stops learning

    IBM CEO Ginny Rometty talks Watson, and how it's going to help people make decisions. It never stops learning, she says. Rometty also discusses the company's dividend.

  • Why Buffett bought more IBM

    Berkshire CEO Warren Buffett addresses his purchase of more IBM shares and allegations of predatory lending at Clayton Homes.