China to introduce more policies to reduce logistics costs

BEIJING, May 29 (Xinhua) -- China will unveil a string of policies and measures to reduce logistics costs and promote innovative development of the industry, the Xinhua-run Economic Information Daily reported on Tuesday.

According to the report, China will compile the domestic logistics development index, build a coordinated and efficient logistics industry standard system, and accelerate multimodal transport development and the development of green logistics.

In the first four months of the year, China reduced the logistics costs by about 26.2 billion yuan, said spokesperson of the Ministry of Transport Wu Chungeng, adding that as for promoting the cancellation of expressway toll stations at provincial borders, the Ministry has formulated a special work plan to actively promote the implementation of the work.

Data of the China Federation of Logistics & Purchasing (CFLP) shows that from 2013 to the present, China's logistics performance index (LPI) has maintained the range of above 50 percent.

In the latest logistics performance index released by the World Bank, China's logistics service quality and capability rankings have risen by 8 places from the previous time.