China's freight logistics value to hit 19.8 trln USD
Date Posted: 2012-04-19
The value of China's freight logistics is expected to reach 125 trillion yuan (19.84 trillion U.S. dollars) in 2012, according to the organizers of the Ninth Automotive Logistics China Conference held in Beijing on 18-20 April.
Currently, the country's logistics costs account for around 18 percent of its gross domestic product, far above the levels seen in the United States and European countries. Although strong growth is expected to continue, China is facing challenges such as high automotive logistics costs and low efficiency, said Martin Thaysen, executive vice president of the China branch of CEVA Logistics, a leading global supply chain management company.