By Russell Flannery / www.forbes.com / January 6th, 2015
Revenue at China’s express delivery businesses soared by 42% last year to $33 billion, according to the website of China’s State Post Bureau.
The number of express deliveries increased to 14 billion, a 52% rise from 2013, according the Ma Junsheng, the bureau’s chief. China led the world in number of deliveries last year, the site said.
The bureau didn’t give a reason for the increase. However, the industry has benefitted from rapid growth in online commerce in the country. China’s e-commerce industry leader Alibaba Group set a record for the largest ever U.S. IPO at the New York Stock Exchange last year.
Fedex and UPS compete in China’s express delivery market. Wang Wei, chairman of home-grown SF Express, ranked No. 26 on the 2014 Forbes China Rich List with wealth of $4.2 billion. SF Express is privately held.