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China issues plan to lower logistics costs

Xinhua, September 26, 2016 Adjust font size:

China's central government has asked for a concerted effort to lower logistical costs in an action plan issued by the State Council on Monday.

China wants to reduce the ratio of logistics costs to sales revenue from 8.9 percent in 2014 to about 8.5 percent for manufacturers and from 7.7 percent to around 7.3 percent for wholesale and retail sellers by 2018.

The government will streamline reviews and approvals for logistics companies, cutting taxes and fees, according to the National Development and Reform Commission plan.

The document also expects better connected highways, railways, waterways and air routes to create a more efficient network.

Customs clearance will be speeded up and delivery services expanded to more rural areas, with financial support and an adequate land supply guaranteed.

Eligible logistics businesses may issue corporate bonds and go public, or asks banks to lend them more. Endi