At the third session of the 14th National People's Congress (NPC), Chinese Minister of Transport Liu Wei announced significant initiatives aimed at reducing logistics costs and improving efficiency across the nation's transportation sector.
Minister Liu emphasized that establishing a unified and open transportation market is crucial for creating a cohesive national market. He highlighted that overall logistics costs in society are primarily composed of transportation, warehousing, and management, with transportation expenses accounting for over 50 percent of the total.
In collaboration with relevant national departments, the Ministry of Transport has developed a comprehensive plan focused on reducing costs, enhancing quality, and boosting efficiency within the transportation and logistics sectors. The plan encompasses five key areas: railways, highways, waterways, civil aviation, and postal services.
In 2024, these efforts are projected to lower the nation's overall logistics costs by approximately 400 billion yuan (about $55 billion). Specifically, transportation costs are expected to decrease by 280 billion yuan (about $38.5 billion), representing about two-thirds of the total cost reduction.
Minister Liu concluded by outlining the Ministry of Transport's commitment to implementing various measures aimed at fostering a unified and open transportation market. These measures will continue to drive cost reductions, quality improvements, and efficiency enhancements in transportation and logistics.
