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Australian Post sees rise in overseas parcels for huge China traffic

Xinhua, August 6, 2015 Adjust font size:

Struggling mail service Australia Post (AP) has received an unexpected boost from items being sent to China, CEO Ahmed Fahour said on Thursday.

Fahour announced AP, which has forecast its first financial loss of its 200-year history, has experienced a huge increase in the number of parcels being sent overseas, primarily to China.

He attributed the rise to Australian goods becoming cheaper for overseas buyers, with the local currency having fallen in the past year - making exports cheaper.

Only 28 percent of AP's revenue now comes from letters, with the rest generated from parcels and other services.

"We are now more of an e-commerce company than we are a letters company," he told a business lunch on Thursday, the Australian Associated Press reported. Endi