UPS to deliver more parcels in China

United Parcel Service Inc, the world's largest package delivery company by revenue, is looking to keep an upper hand in the Chinese market by adding 14 inner-city express services next year.

UPS began domestic courier services in 2012, when it was granted seven licenses by the State Post Bureau of China. With more goods circulating in the world's most populous market, it expanded to 19 first- and second-tier cities this year and expects to reach 33 cities in 2014.

Scott Davis, chief executive officer of UPS, said that China's middle class will grow significantly over the next 20 years and more delivery services will be needed, so the company wants to expand its network in the country.