UPDATE 1-UPS eyeing China domestic parcel service market

* UPS planning domestic parcel service in China

* UPS submitting license application as early as this week

* Chinese market could total 5 mln packages a day
(Adds New York to dateline, company attribution)

NEW YORK, Sept 28 (BestGrowthStock) – United Parcel Service Inc
(UPS.N: ) is planning to set up a domestic parcel service in
China and will submit a license application to the Chinese
postal regulator as early as this week, the company said
Tuesday.

UPS will roll out a next-day delivery service and second
and third-day delivery products soon after the State Post
Bureau approves the company’s license application.

The Chinese market could be as large as 5 million packages
a day.

In 2009 UPS delivered about 1.2 million packages a day in
its international-domestic segment — its term to describe
deliveries within foreign countries — worth $2.1 billion in
revenue.

Last week, Dan Brutto, president of UPS International, said
the company’s intra-Asian business will grow at a high
double-digit percentage rate over the next decade.
[ID:nN23158315]
(Reporting by Helen Chernikoff in New York and Sakthi Prasad
in Bangalore, editing by Gerald E. McCormick)

UPDATE 1-UPS eyeing China domestic parcel service market