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Fedex reports on boosting economic growth in Asia-Pacific through improved operations

Policy
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Brie Carere Executive Vice President, Chief Customer Officer, FedEx Corporation Co-President and Co-CEO, FedEx Services | FedEx

FedEx has released its annual economic impact report, detailing the company's role in promoting economic growth through enhanced flexibility, operational efficiency, and intelligence in the Asia-Pacific and China markets. The report, compiled with input from business data and analytics provider Dun & Bradstreet, highlights FedEx's positive impact on accelerating the flow of goods and ideas to foster economic growth across countries and regions.

Raj Subramaniam, President and CEO of FedEx Corporation, stated: "FedEx's vision is to create smarter supply chains for everyone by using advanced data and technology to provide better service for our customers and their consumers, thereby expanding FedEx's business scope and influence. 'The FedEx Effect' demonstrates our unwavering commitment to operational excellence, economic growth, and the communities we serve."

The report reveals that in fiscal year 2024, FedEx contributed over $85 billion directly to the global economy, representing approximately 0.1% of global net economic output. This showcases the extensive reach of FedEx's logistics network and its ongoing enhancements in innovative services to help businesses of all sizes reach customers and optimize operations. Currently, FedEx operates one of the world's most extensive transportation networks serving over 220 countries and territories. The company employs more than 500,000 people worldwide across over 5,000 facilities with a daily package processing volume of 16 million.

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In the Asia-Pacific region—a hub for economic opportunities—FedEx plays a crucial role in regional business development through its expanding air and ground network covering 43 countries and territories. In fiscal year 2024 alone, FedEx contributed approximately 0.2% of net economic output to transportation, warehousing, and communication industries within this region.

Kawal Preet, President of Asia Pacific at FedEx Express said: "FedEx recognizes the strategic importance of Asia-Pacific as a critical hub in the global economy. We are committed to driving growth here by strategically investing in infrastructure that enhances both global connectivity as well as regional connectivity."

China remains one of the fastest-growing major economies within Asia-Pacific—holding significant importance within FedEx’s global strategy since entering China back in 1984—and continues investing heavily into new facilities while upgrading services supporting China's thriving economy along with increasing connectivity between China & international markets alike.

Salmon Tsui Senior Vice President/President Greater China Region remarked: “This year marks forty years since operating successfully within Chinese market where we take pride seeing remarkable achievements connecting Chinese clients globally utilizing more flexible efficient intelligent methods."

Fedex further expands its footprint economically throughout China by supporting trade policies promoting market openness globally; enhancing operations such as opening newly upgraded headquarters office Shanghai improving sorting efficiency Shenzhen International Gateway Operations Center doubling capacity; investing renewable energy sources powering facilities continuing electrification pickup delivery fleet reaching twenty percent electric vehicles used domestically reducing water electricity fuel paper consumption initiatives like Go Green competition involving team members participating recycling programs old uniforms transforming sustainable products low carbon alternative fuels working local organizations contribute community welfare via charity donations employee volunteer work philanthropic transport services globally alongside various environmental conservation projects including tree planting efforts alongside panda relocation project Washington D.C.-Chengdu safe transportations November last year engaging volunteer activities library projects among others locally contributing positively towards overall prosperity communities they operate therein.

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