Beijing issues second major plan to lower logistics costs
Policymakers are going all in to tackle high logistics costs.
On Wednesday, the Party Central Committee and State Council issued an action plan on lowering logistics costs.
- A previous action plan was issued just two weeks ago, covering the same topic.
The latest plan outlines a range of measures to improve logistical efficiency, including:
- Accelerating the development of large-scale national logistics hubs, with a focus on commodities, new energy vehicles, and cold chain storage
- Strengthening infrastructure integration, data sharing, and standardization to boost intermodal transportation
- Consolidating inefficient logistics providers and fostering the growth of large, globally competitive firms
The plan commits to reducing logistics costs while making operations smarter and more sustainable, by:
- Improving logistics digitalization and automation by integrating 5G, AI, autonomous vehicles, and unmanned logistics infrastructure
- Accelerating the adoption of new energy logistics vehicles (NEVs) and decarbonizing logistics infrastructure
Get smart: An efficient, low-cost logistics system is crucial for economic efficiency, lowering consumer costs, and retaining China Inc.’s cost advantages.
Get smarter: Integrating AI, 5G, and NEVs into logistics will also create a platform to scale these industries, providing China with a competitive advantage against its trading partners, such as the US and EU.
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