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China's logistics industry posts 15.4% growth in added value

(Xinhua)
Updated: 2009-03-09 10:13

China's logistics industry realized 2 trillion yuan ($291.9 billion) in added value last year, up 15.4 percent from 2007, according to the National Development and Reform Commission (NDRC).

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The growth, however, was 4.5 percentage points lower than 2007.

The NDRC attributed the lower growth to the severe snowstorm at the beginning of 2008, the May 12 earthquake and adverse impacts of the global financial crisis.

The added value accounted for 16.5 percent of the total added value for the service industry at large, down 0.1 percentage points year-on-year.

Business volume of the industry rose 19.5 percent year on year to 89.9 trillion yuan. The growth rate was 6.7 percentage points lower than the 2007 level.

The logistics sector's expenditure reached 5.5 trillion yuan nationwide in 2007, up 16.2 percent. The growth rate was 4.4 percentage points lower.

The State Council, or the Cabinet, announced a support plan to boost the logistics sector last month, including the building of a special district for logistics development, and boost urban delivery, wholesale and rural logistics.