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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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The announcement means the airport will be the first in the world with two international express transferring hubs.
Part of ongoing push to become global gateway
The airport is scheduled to begin full domestic and international operations Sept. 28
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