China cuts 88 bln yuan in logistics costs in 2017
China reduced logistics costs by more than 88 billion yuan (13.4 billion U.S. dollars) in 2017, the Ministry of Transport said Monday.
The cuts were made through measures such as the removal of some road tolls in provincial-level regions and streamlined traffic services, according to the ministry.
Li Xiaopeng, minister of transport, said that China will continue to push supply-side structural reform in the transport industry and further lower logistics costs in 2018.
The country will expand pilot programs in highway toll collection and streamline some charges in ports, Li said.
Statistics from the National Development and Reform Commission showed that the cost of logistics in China took up about 14.9 percent of GDP in 2016, down by 1.1 percentage points from the previous year.
Although the ratio had dropped for four years in a row by 2016, it is still higher than some developing economies.
Authorities have stepped up reform in the transport sector this year to reduce the logistics burden of companies. Rail freight charges were canceled or lowered, while more means of financing were made available to companies in the logistics sector.
Related articles
Messi in and Dybala out in Argentina squad for pre
BUENOS AIRES, Argentina (AP) — Lionel Messi is in and Paulo Dybala is out of Argentina’s squad for f2024-05-21China's passenger vehicle sales up 9 pct in Jan
BEIJING, May 8 (Xinhua) -- China's retail sales of passenger cars reached nearly 6.42 million units2024-05-21Meghan Markle thanks Nigerians for welcoming her to 'my country'
Meghan Markle has thanked Nigerians for welcoming her to 'my country' as she hopes she can 'do justi2024-05-21Minnesota unfurls new state flag atop the capitol for the first time Saturday
ST. PAUL, Minnesota (AP) — Minnesota officially unfurled its new state flag atop the capitol for the2024-05-21Iran helicopter crash that killed President Raisi could reverberate across the Middle East
JERUSALEM (AP) — The helicopter crash in which Iranian President Ebrahim Raisi, the country’s foreig2024-05-21- COMMERCE CITY, Colo. (AP) — Cristian Espinoza had a goal and an assist, Vitor Costa de Brito added t2024-05-21
atest comment