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UPS (NYSE:UPS), a package delivery company, and the Shanghai Airport Authority have conducted a formal groundbreaking ceremony for the UPS International Air Hub at Pudong International Airport. UPS Chairman and CEO Mike Eskew said "the opening of this hub will ensure we are well-positioned to support the explosive growth in Asia's regional trade".
Over the past five years, UPS has invested about USD600m in China, including a successful transition to become the first wholly-owned foreign express carrier in the country.
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