Chan: We remain very confident in China's prospects for continued growth, which will in turn bolster the express and logistics industries. Facing the new challenge, we'll continue to reach new markets, new suppliers and part-ners as we can. For example, we served 144 cities in China in 1999, and serve 224 cities today. We plan to increase that to 320 by 2008.
To cater to the needs of business expansion, we project we will increase our employees to about 2,000 by mid-2005. In terms of forming alliances, we partnered with Kodak to provide international express service in eight selected Kodak Express stores for customers to drop their shipments. The service was extended to 41 stores in Shanghai and is available in 20 Kodak Express shops across Guangzhou since last November. We'll look for more opportunities for such cooperation to cover as many customers as we can.
TT: Taiwan's express companies are also interested in exploiting the Chinese market, where they have an advantage in terms of cultural and language similarity. Some industry watchers have said express and logistics businesses from Taiwan and China have an opportunity to compete with foreign express giants like FedEx by forming joint ventures. How do you perceive the possible competition?
Chan: We welcome competition as we see that as a sign of pros-pering trade and sustainable development of a country. Besides, service providers will enhance their ability to provide the best solutions to the benefit of customers. The air express market is not a zero-sum game.
In fact, FedEx is a global trade enabler and has been a longtime advocate of free trade and open skies. Once trade barriers are elim-inated, trade activities will increase and sustainable economic development in emerging countries will be stimulated.
The economic benefits will be offering the country's businesses more choices with lower prices that come with competition. This in return provides win-win situations for the countries involved.
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