Worldwide shipping business UPS looks set to target China as the next major area of growth with the appointment of a former US ambassador to the country.

Clark 'Sandy' T Randt Jr has been named a company director for the shipping firm, expanding the board to include 11 members.

Mr Randt is one of the main authorities on China in the US, having served as ambassador to the People's Republic for seven years.

A Yale graduate, he currently is the president of Randt & Co, a firm that advises businesses with an interest in China.

UPS, which describes itself as the world's largest package delivery company, has also said it will pay shareholders a dividend of $0.46 (£0.29) per share.

This comes off the back of strong second quarter results for UPS after it reported a 57 per cent year-on-year increase in operating profit to $1.4 billion (£880 million).

"UPS fired on all cylinders in the second quarter even in the face of a mixed global economic environment," commented UPS chairman and chief executive officer Scott Davis.