China's 1st-quarter logistics value totals US$993b
(Xinhua)
Updated: 2004-05-12 13:50

The total value of China's domestic logistics in the first quarter of 2004 arrived at 8.21 trillion yuan (US$993 billion), 31.7 percent higher than the corresponding period last year, according to statistics from the national logistics information center.

During the first three months this year the aggregate turnover of China's logistics reached 1.52 trillion tons/km, up 23 percent year-on-year, which is 13.3 percentage points higher than growth speed of the GDP.

Experts of the center say that the increase of both the total value and the turnover of China's logistics indicate a rising need for logistics during China's economic growth.

However, the statistics also show that in the first quarter of 2004 the proportion of logistics costs in the GDP increases by 21.6 percent.

Experts say this proves China's logistics field is still underdeveloped.

The markup in China's transportation is the main reason why logistics costs rise and the relatively smaller investment in logistics proper also gives rise to the rising costs, experts say.

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