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August 15, 2009

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City aims to be Asia Pacific logistics hub

SHANGHAI seeks to build itself into a logistics hub in the Asia Pacific region by 2011, according to a blueprint on the logistics industry yesterday.

The output of the city's logistics industry will continue to grow 10 percent annually and to account for more than 13 percent of the city's gross domestic product by 2011, according to the plan.

"Logistics services play an important role in every industry and are key to help build the city into an international financial and shipping hub," Shanghai Vice Mayor Tang Dengjie said yesterday.

The city will speed up the formation of a logistics resource exchange center and a network of public distribution centers to offer door-to-door logistics services for agricultural products, medical equipment and medicine.

Under the plan, Shanghai will also encourage cooperation between manufacturers and logistics companies and develop major logistics projects.

The city's logistics output rose 14.7 percent annually from 2006 to 2008 and reached 179.4 billion yuan (US$26.26 billion), accounting for 13.1 percent of the city's GDP and 25.3 percent of the service industry.

However, the global financial crisis has dampened external demand.

The city's blueprint echoed the State Council's stimulus plan to increase support for logistics companies.

Under the plan unveiled in February, the central government encouraged mergers and restructuring in the logistics industry to form larger companies more able to compete with overseas rivals. The plan aims to boost demand, promote logistics services in energy, mining, autos, agriculture and medicine and increase investment in infrastructure.

The State Council has announced nine key targets for the industry, including enhancing cooperation between manufacturers and logistics firms.


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