Postal Savings Bank of China Simplifies SWIFT Codes for Global Transfers

Postal Savings Bank of China Simplifies SWIFT Codes for Global Transfers

This article provides a comprehensive analysis of the SWIFT code system of the Postal Savings Bank of China (PSBC), focusing on the head office code PSBCCNBJXXX and its applicable scenarios. It also explains the specificities and inquiry methods for branch codes. Furthermore, the article details the precautions and frequently asked questions related to cross-border remittances, aiming to offer readers a clear and practical guide. It covers key aspects for understanding and successfully navigating international money transfers with PSBC.

09/03/2025 International Settlement
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USPS Ends Discounts in Ground Shipping Overhaul

USPS Ends Discounts in Ground Shipping Overhaul

The United States Postal Service (USPS) is modifying its contracts with package consolidators, eliminating discounts to optimize network efficiency and promote its Ground Advantage service. This move aims to improve profitability and address market competition. However, it may impact the strategies of package consolidators and shippers, potentially creating opportunities for competitors like UPS and FedEx. The changes reflect USPS's broader logistics strategy to remain competitive in the evolving parcel delivery landscape.

01/15/2026 Logistics
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USPS Announces 10year Plan to Boost Profitability and Service

USPS Announces 10year Plan to Boost Profitability and Service

The USPS has released a ten-year plan to achieve financial sustainability and improve service quality by expanding e-commerce services (USPS Connect), adjusting service standards, investing in infrastructure, and seeking legislative support. The plan faces numerous challenges, including market competition, internal reforms, and external environmental factors. Its success or failure will directly impact the future of the United States Postal Service. This comprehensive strategy aims to modernize operations and better meet the evolving needs of customers and businesses in the digital age.

01/15/2026 Logistics
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Elon Musk Suggests Privatizing USPS Amtrak to Cut Losses

Elon Musk Suggests Privatizing USPS Amtrak to Cut Losses

Elon Musk suggested privatizing the United States Postal Service (USPS) and Amtrak to address their chronic losses. Data indicates significant financial deficits for both institutions. Musk argues that public assets should be privatized when reasonable and feasible, subject to congressional approval. This proposal has sparked debate regarding the efficiency and sustainability of public services. The discussion revolves around whether privatization can improve financial performance and service delivery compared to the current public model.

11/03/2025 Logistics Industry Insights
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USPS Weighs Reverse Auction for Amazon Contract Renewal

USPS Weighs Reverse Auction for Amazon Contract Renewal

Amazon's existing contract with the United States Postal Service (USPS) expires in October 2026. USPS is considering using a reverse auction mechanism for renewal negotiations. This aims to secure more competitive pricing and service terms. However, it could also increase the complexity of negotiations and potentially impact the long-term partnership between the two entities. The reverse auction approach seeks to leverage competitive bidding to achieve favorable outcomes for USPS in the upcoming contract renewal.

01/07/2026 Logistics
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USPS Suspends Holiday Peak Surcharge Easing Logistics Costs

USPS Suspends Holiday Peak Surcharge Easing Logistics Costs

The United States Postal Service (USPS) announced the elimination of peak-season surcharges for the holiday season, citing improved capacity and cost control. This strategic move aims to capture market share through price competitiveness. The decision is expected to impact the overall logistics landscape, potentially leading to more affordable holiday shopping experiences for consumers. USPS is currently undergoing a ten-year transformation plan to enhance service capabilities, address challenges, and foster innovation in logistics services.

01/16/2026 Logistics
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UPS Explores Renewed Partnership with USPS for Ground Delivery

UPS Explores Renewed Partnership with USPS for Ground Delivery

UPS is renegotiating its Ground Saver service partnership with the United States Postal Service after previously ending the collaboration due to cost and reliability concerns. A renewed partnership could expand service reach, but the negotiation outlook remains uncertain. UPS also faces increasing competition in the e-commerce logistics market. Improving profitability remains a key challenge for UPS, regardless of the USPS partnership outcome. The success of Ground Saver will depend on balancing cost efficiency, reliable delivery, and competitive pricing in the dynamic e-commerce landscape.

01/08/2026 Logistics
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Rapid Development of Postal International Express Small Package Business and Future Trends

Rapid Development of Postal International Express Small Package Business and Future Trends

In recent years, the postal international express small package business has grown rapidly, especially in the cross-border e-commerce sector. The Hangzhou Postal Package Business Bureau aims to provide a one-stop solution for e-commerce by integrating resources, enhancing services, and opening dedicated lines. They handle up to 100,000 packages per day, covering over 220 countries worldwide. Additionally, the postal bureau actively supports small and medium-sized e-commerce businesses and leverages government support platforms to facilitate future development.

07/21/2025 Logistics
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