China to improve transport efficiency, reduce logistics costs

BEIJING -- China will unveil various measures to improve transport efficiency and lower logistics costs, according to a spokesperson for the transport ministry.

Vowing to see a notable increase in transport efficiency in the next three years, the country will accelerate the construction of a comprehensive transport network, spokesperson Wu Chungeng told a news conference Thursday.

Efforts will also be made to expand the electronic toll collection system and promote multimodal transport, Wu said.

Meanwhile, the logistics costs are expected to be reduced by 120.9 billion yuan (about $17.97 billion) in 2019, and a logistics service system in line with the country's high-quality growth will be established over the next three years.

To fulfil such targets, the ministry will optimize transport structure, upgrade rail, road and waterway transport systems and expand the network of logistics hubs, Wu said.

Wu also stressed that the ministry would advance technological innovation in efforts to cut logistics costs, develop the Internet Plus logistics model and consolidate information sharing platforms for transport and logistics.

China has made huge progress in reducing logistics costs, seeing cost cuts of 98.1 billion yuan last year, up from 55.8 billion yuan in 2016.