China will encourage private investors to invest in developing the country's logistics industry, which is underdeveloped and holding back economic growth, according to state-owned news agency Xinhua. 17 Aug 2015
The government plans to speed up construction on logistics projects as part of its efforts to stabilise economic growth and encourage industrial restructuring, Xinhua said, citing a statement from the Chinese National Development and Reform Commission.
China aims to build a modern logistics service system by 2020, with value added output growing at around 8%, or 7.5% of the country's GDP, Xinhua said.
The China Federation of Logistics and Purchasing reported that goods worth 104.7 trillion yuan (US$2.55 trillion) were transported in the first half of the year, Xinhua said.
Between January and June the gross revenue of the logistics industry was 3.6tr yuan, up 5.4% on the same period last year, Xinhua said.