Friday, October 10, 2014

CHINA'S LOGISTICS MODERNIZATION

China sets out plan for logistics modernisation

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The Chinese government has set out plans for a new logistics system by 2020 as part of its approach to adjusting the country’s economic structure and the growth model.
An “upgraded version” of logistics with quality and efficiency as the centre is proposed in a development programme for 2014-2020, which was issued on 4th October 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 prioritised in the plan.
After an average of more than 20 per cent annual growth in the past decade, logistics growth has slowed along with the rest of the economy. Combined goods value grew 8.6 per cent 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.