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Xinhua Credit
Policy

China unveils measures to reduce logistics costs

June 03, 2020


Abstract : Chinese authorities have launched new measures to reduce the logistic costs on Tuesday, pledging diversified support to facilitate logistics and transportation development in China, reported Xinhua-run cnstock.com Wednesday.

BEIJING, June 3 (Xinhua) -- Chinese authorities have launched new measures to reduce the logistic costs on Tuesday, pledging diversified support to facilitate logistics and transportation development in China, reported Xinhua-run cnstock.com Wednesday.

According to the measures, China will carry out comprehensive pilot reform of railway marketization; increase the investment in the central budget and local government special bonds to support the construction of major logistics infrastructure; reduce road traffic costs, railway and aviation tolls; study and formulate the implementation plan for the construction of the national logistics hub network from 2021 to 2025; and encourage market-oriented mergers and acquisitions of large logistics companies.

By implementing a series of measures in the transportation and logistics sectors, China is expected to lower logistics costs by more than 130 billion yuan this year, according to Dai Dongchang, vice minister of the Ministry of Transportation.

It is worth mentioning that the measures also propose to formulate an implementation plan for the construction of the national logistics hub network in 2021-2025, including encouraging market-oriented merger and reorganization of large logistics enterprises, and cultivating strong international shipping enterprises.

(Edited by Jiang Feifan with Xinhua Silk Road, 346129473@qq.com)

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