Strong global logistics firms needed

Source: Xinhua | March 16, 2009, Monday |

Print Edition

CHINA will foster a number of globally competitive logistics companies by 2011, said a stimulus plan covering the country's logistics industry released on the government Website on Friday.

All departments and local governments are urged to make efforts to achieve the goal, according to the plan, issued by the State Council, China's Cabinet.

It said local authorities should help logistics firms solve problems in their development, realize a 10-percent annual growth in their output and lower the proportion of logistics expenses in the country's gross domestic product.

The Cabinet said the country's logistics industry was affected by the unfolding global financial crisis. The stimulus plan was designed not only to promote its industrial upgrade but support development of other industries, expand consumption and increase employment.

As a composite service industry, logistics, comprising transport, storage, information industries and freight agencies, is an important part of national economy, said the plan.

The Cabinet has rolled out plans for 10 industries including steel, auto and textile, targeting industrial growth, as well as restructuring and upgrading.

Transport

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Strong global logistics firms needed

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