UPS HOLDS BOARD MEETING IN CHINA

UPS HOLDS BOARD MEETING IN CHINA    The board of directors for United Parcel Service are meeting in China this week to consider new business opportunities in this expanding freight market.
   During the meeting, the 12-member board will meet with Chinese government officials; visit the company’s joint venture partners; and tour its new facility in Beijing.
   UPS recently announced plans to open 20 new representative offices in China by the end of 2003. In the past month alone, the company opened offices in Xiamen, Shenzhen and Qingdao.
   UPS also recently started non-stop package express service between China and the United States, and has built an intra-Asia hub in the Philippines.
   “More than 40 of the 200-plus countries and territories served by UPS are located in the Asia-Pacific region,” the company said. “UPS export volume in China grew more than 40 percent during this year’s third quarter compared to the prior year period, and average export volume across the region climbed 15 percent during the quarter.”