FedEx slashes rates in China

China - FedEx Corp has slashed its rates in China at a time when higher fuel prices have triggered competitors to do the opposite.  

The company has reportedly lowered charges for its FedEx First Overnight -- a service which guarantees delivery before 10:30am the next day -- by as much as 77%. The new prices for sending a 2kg parcel from Beijing to Shanghai now stands at 31 renminbi (S$6), compared to the 90 renminbi state-owned courier EMS charges.

A FedEx spokesperson said the reduced rates will allow more customers access to its services and optimise their supply chains.