In a bold move to enhance the national market, Chinese Minister of Transport Liu Wei announced plans to significantly reduce logistics costs and boost efficiency. Speaking at the Ministers' Corridor of the third session of the 14th National People's Congress (NPC) in Beijing, Minister Liu emphasized the importance of a unified and open transportation market.
Logistics costs in society are a major expenditure, with transportation alone accounting for over 50%. To tackle this, the Ministry of Transport, in collaboration with other national departments, has rolled out a comprehensive plan aimed at cutting costs, improving quality, and enhancing efficiency across five key sectors: railways, highways, waterways, civil aviation, and postal services. 🚆🚗✈️📦
Last year, these efforts paid off with a nationwide reduction in logistics costs by approximately 400 billion yuan (about $55 billion), of which transportation costs saw a decrease of 280 billion yuan (around $38.5 billion) – that's nearly two-thirds of the total savings! 💸✨
Looking ahead, Minister Liu assured that the Ministry of Transport will continue implementing various measures to foster a more integrated and efficient transportation market. These initiatives are set to further drive down costs, elevate service quality, and streamline logistics operations, benefiting businesses and consumers alike.
Reference(s):
Transport minister: China to cut logistics costs and boost efficiency
cgtn.com
