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China to boost high quality development of logistics sector

Updated: Mar 1,2019 9:20 PM     Xinhua

BEIJING — China will promote high-quality development of its logistics sector in 2019 to bolster economic growth, said the country’s top economic planner on March 1.

The National Development and Reform Commission issued a document containing 25 opinions to prop up the growth of the logistics sector. The mission will require the efforts of 24 government departments including the Ministry of Transport, Ministry of Commerce and the People’s Bank of China, the country’s central bank.

In accordance with the opinions, it is necessary to build an infrastructure network commensurate with high-quality development of logistics, improve the sector’s capability in serving the real economy, strengthen the endogenous impetus for high-quality development of the sector, as well as optimize business environment favorable for high-quality development of the sector.

To this end, supporting systems on statistics, standardization, evaluation and credit should also be established, while innovative land and financing policies should be guaranteed.

The total value of goods carried by the logistics sector surged to 257.9 trillion yuan (about $37.5 trillion) in the first 11 months of 2018, according to data given by the National Development and Reform Commission.