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China to build modern logistics

Updated: Oct 5,2014 12:34 PM     Xinhua

China plans a new logistics system by 2020, the latest effort in adjusting economic structure and the growth model.

An “upgraded version” of logistics with quality and efficiency as the center is proposed in a development program for 2014-2020 issued on Oct 4 by the State Council, China’s cabinet.

The plan highlights the sector’s connection with traditional manufacturing industry and new opportunities brought by E-commerce.

Twelve projects including farm produce, recyclable materials and manufacturing were prioritized in the plan.

After an average of more than 20 percent annual growth in the past decade, logistics groath has slowed along with the rest of the economy. Combined goods value grew 8.6 percent year on year in the first quarter, data from the China Federation of Logistics and Purchasing said.

He Liming, president of the federation, predicted the sector will continue moderate growth in the long run and its restructuring process will be quick.