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China's logistics value up 15% for 2010

03-04-2011 09:26 BJT

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China's logistics federation says the value of the industry hit more than 125 trillion yuan in 2010. That's a 15 percent increase year-on-year. Experts say it shows China's logistics industry is maturing, as it has become more efficient.

China's Federation of Logistics and Purchasing says the country's logistics value went up 15 percent year on year, to reach 125 trillion in 2010.

The total value of industrial commodities reached more than 113 trillion yuan... accounting for more than 90 percent of the country's logistics value.

Cai Jin, Vice Chairman of China Federation of Logistics & Purchasing said "The rapid growth of the logistics value shows the fast development of China's logistics industry. It also shows the importance of modern logistics to China's economic growth."

China's logistics costs were equivalent to around 17.8 percent of its total GDP in 2010, down 0.3 percentage points from 2009. That figure suggests that operational efficiencies have improved.

Cai Jin said "It means we have saved more than 120 billion yuan in operational costs. That's to say that through improvements in our efficiency, we have created more than 120 billion yuan profit."

But experts say compared with western countries, China's logistics costs remain high. If the industry could come up with a better way to reduce the costs, China's logistics industry would become even more efficient.

Editor:Xiong Qu |Source: CNTV.CN

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