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By Wang Lan (China Daily)
Updated: 2008-01-11 13:55

FedEx Express launched a new product yesterday for small- and medium-sized companies, to expand its operations on the Chinese mainland and nine other Asia-Pacific markets.

The new international economy product for customers with less urgent shipments under 68 kg will be 20 percent cheaper than the company's main global priority service.

"The lower charge is expected to attract many SMEs, who take both reliability and cost efficiency as their top priority for shipments," said Eddy Chan, head of FedEx Express China.

Chan said the new service offers intra-Asia delivery in two business days and shipments to the US and European markets in three to four business days. That's one to two days slower than the company's other international express services.

The new service will be available in 10 markets in the Asia-Pacific region - the mainland, Hong Kong, Taiwan, Japan, Australia, South Korea, Malaysia, New Zealand, Singapore and Thailand.

Chan said the mainland was a priority in the company's 2008 development strategy. "Other than the international express business, we also see great growth potential in the domestic express market on the mainland in 2008, because it is taking steps to reduce the reliance of economic growth on exports and trying to expand internal demand."

David L. Cunningham Jr, president of FedEx Express Asia-Pacific, said: "We believe there is a clear demand for a service that lies between international priority express and the regular postal service."