In a strategic move to strengthen its national market, China's Minister of Transport, Liu Wei, announced significant reductions in logistics costs aimed at fostering a unified and open transportation market.
Speaking at the Ministers' Corridor during the third session of the 14th National People's Congress (NPC), Minister Liu emphasized that lowering logistics expenses is crucial for accelerating the establishment of a cohesive national market. He highlighted that logistics costs are primarily driven by transportation, warehousing, and management, with transportation accounting for over half of the total expenses.
The Ministry of Transport, in collaboration with various national departments, has rolled out a comprehensive plan focused on reducing costs, enhancing quality, and increasing efficiency across all transportation sectors, including railways, highways, waterways, civil aviation, and postal services.
In 2024 alone, the initiative successfully cut overall logistics costs nationwide by approximately 400 billion yuan (around $55 billion). Specifically, transportation costs saw a reduction of 280 billion yuan (about $38.5 billion), which constitutes roughly two-thirds of the total savings.
Looking ahead, Minister Liu assured that the Ministry of Transport will continue to implement measures designed to further cultivate a unified and open transportation market. These efforts aim to sustain cost reductions, improve service quality, and enhance the overall efficiency of China's transportation and logistics sectors.
Reference(s):
Transport minister: China to cut logistics costs and boost efficiency
cgtn.com
