Member LoginMember Login - User registration - Setup as front page - Add to favorites - Sitemap China cuts 88 bln yuan in logistics costs in 2017 !

China cuts 88 bln yuan in logistics costs in 2017

Time:2024-05-21 17:38:16 source:Global Gist news portal

  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 information
  • Ohio judge to rule Monday on whether the state’s abortion ban stands
  • South China Sea: US accuses China of 'risky' fighter jet intercepts
  • Flood, weather warnings as storm hits Australia
  • Reserve Bank holds OCR at 5.5 percent
  • The Latest
  • DOC job cuts plan: Tourism, backcountry huts, flora and fauna at risk, groups say
  • Colorado reporter's expulsion from Republican gathering causes uproar
  • US Postal Service seeks to hike stamp prices to 73 cents
Recommended content
  • Independent UN experts urge Yemen’s Houthis to free detained Baha'i followers
  • Indigenous deaths in custody haunt Australia
  • Pope Francis calls for ceasefire in Gaza and Ukraine in Easter message
  • Media Minister had 'more than enough time' to find solutions
  • Baby Reindeer's real
  • Israel Gaza: Journalists injured in al