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Shanghai Logistics Industry Association established

By Shangguan Zhoudong (chinadaily.com.cn)
Updated: 2006-12-31 08:40

Related publication: Related readings: Domestic logistics value up 15.6% Beijing 2008 Olympics to boost road logistics Shenzhen to boost logistics, finance sectors Selected logistics firms to receive support

The Shanghai Logistics Industry Association was established on December 4. Bailian Group vice chairman Lu Yongming was appointed as association chairman. Its establishment will benefit Shanghai's logistics industry.

Shanghai's logistics industry has seen rapid development in recent years. From 2001 to 2005, the industry added value grew from 62.86 billion yuan (US$8.04 billion) to 117.55 billion yuan with an annual growth rate of 16.9 percent, accounting for around 13 percent of the total gross domestic products (GDP) of the city.

During the 11th Five-Year Program (2006-2010), the city's logistics industry will keep a growth rate of more than ten percent and logistics costs/GDP rates will slip two percentage points. By 2010, Shanghai will become a preliminary international logistics hub and a logistics center in Asia and the Pacific region.

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The full text is available in the December Issue ofLogistics China.