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Domestic logistics turnover hits $11 trillion in 2007

(Xinhua)
Updated: 2008-12-01 09:26

China saw its domestic logistics turnover increased 23.8 times during 1991-2007 period, representing an increase of 22.2 percent annually.

Domestic logistics turnover increased to 75.2 trillion yuan ($11.01 trillion) in 2007 from 3 trillion in 1991, said Lu Jiang, China Federation of Logistics and Purchasing head.

Foreign enterprises invested 6,996 logistics programs in China in 2007, accounting for 18.5 percent of the country's total volume of foreign investment.

China has invested 7.8 trillion yuan to improve its logistics infrastructure since 1991. The country has 475 logistics basis nationwide, and more than 100 consultation organs currently.

Lu said that the fast development of logistics business had helped to improve the business process of the country's booming production and manufacturing industries and promoted the prosperity of social consumer goods retail sector and E-business.

Last year, sales volume of the nation's 100 largest chain store companies topped one trillion yuan, accounting for 11.2 percent of the country's total social consumer goods retail volume.