A new class

摘要

The Chinese logistics industry is still young, which is why so many foreign-owned companies have based themselves in Shanghai, attempting to exploit the potential of China's huge international and domestic markets. The state-owned forwarders, such as Penavico and Sinotrans, have dominated the market with their vast resources, but China's WTO entry and economic deregulation, and the awarding of certain key operational licences, is finally allowing a few outsiders to get a look in. USF Worldwide is the global non-asset-based freight forwarding unit of Illinois-headquartered USFreightways. The Chinese Ministry of Foreign Trade and Economic Cooperation (MOFTEC) awarded the crucial class A operating licence to USF's Shanghai office in May 2001. This gives it the right to conduct international air and ocean forwarding operations for both import and export cargo in China. USF can raise its own invoices to companies outside China, deal directly with the air and ocean carriers and provide warehousing, customs clearance and value-added services.