One of the biggest Chinese companies you’ve never heard of wants to expand its U.S. presence. Express, a Shenzhen-listed package delivery company worth $34 billion, is forming a joint venture with United Parcel Service. The strategy looks right, but deals like these will have to go very well for S.F. Express to justify its eye-watering valuation. The package-delivery market in China...

Source: Wall Street Journal May 29, 2017 04:52 UTC