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China’s logistics industry is thriving

Updated: Jan 9,2018 10:05 AM Daily

The first 11 months of 2017 saw 229.9 trillion yuan ($35.38 trillion) in turnover generated in the logistics industry, up 6.7 percent year-on-year. Acquisitions and intensification have been in full swing in the industry, with the internet, internet of things, and big data increasingly applied, Economic Daily reported on Jan 1.

All-around development

China has been strengthening its support for the logistics industry with a surge in preferential policies. A guideline on restructuring the supply chain issued by the State Council in October marked changes in the logistics industry from a growth-driven mode to a quality-oriented pattern, said Ding Junfa, chief adviser at the China Federation of Logistics and Purchasing.

The logistics industry made enormous progress in a wide range of fields, including the express technology of e-commerce, overseas infrastructure, logistics network, technological innovation, and efficiency, said He Mingke, a vice president at Beijing Wuzi University.

Innovation-driven restructuring

As internet of things, sharing platforms, sharing economy, big data, and position tracking technology have been widely applied, the logistics industry is undergoing a revolution, which has far-reaching influence in the trajectory of its development, said He.

The development of the supply chain facilitates the application of technologies that can benefit the logistics industry. There is certainly a further surge in momentous changes coming to the fore, said Ding.

Key fields that deserve attention

New technologies, a capable driver of logistics restructuring, should be widely available to benefit further progress. Meanwhile, environmental protection is also an important mission calling for fulfillment, thus more efforts should be made to develop recyclable wrapping materials, said Cao Zhiqiang, an analyst at the Ministry of Commerce.

Additionally, China’s logistics industry should also play a bigger role in the global supply chain against the backdrop of the Belt and Road Initiative, Cao added.