(Jing Yang – China Business)
The State Council has published a sweeping blueprint for developing China’s logistics infrastructure and capacity over the next six years, while approving a plan to roughly double the size of the deepwater port in Tianjin in an effort to boost import and export flows.
The 2014-2020 logistics industry development plan, published on the central government’s website on Saturday, identifies issues facing the industry as the world’s largest trading economy aims to straighten out bottlenecks within its domestic supply chain.
China’s total logistics costs accounted for 18% of gross domestic product last year, more than double the level in developed economies and more than in developing peers such as Brazil and India. Read more here.