China announces plan to develop logistics, manufacturing sectors

Chinese authorities have announced an action plan to drive integration and innovation of logistics and manufacturing sectors, and maintain the stability of industrial and supply chains.

Efforts will be made to promote the new development pattern in which domestic and foreign markets boost each other, with the domestic market as the mainstay, according to the plan jointly released by 14 central government departments, including the National Development and Reform Commission.

It proposes to reduce costs and enhance the efficiency of the logistics industry amid manufacturing transformation and upgrades, so as to promote the synergy between the two industries.

By 2025, the logistics industry will play a more significant role in cost reduction and improvement of efficiency in the real economy, supply chain coordination and high-quality development of the manufacturing industry, the plan said.

The coordinated development of supply chains in the manufacturing sector will be greatly enhanced, while the supply capacity of refined and high-quality logistics services will be boosted, according to the plan.