China's total logistics flow in 2007 grew 25.5 percent
year-on-year to 74.8 trillion yuan (10.27 trillion U.S. dollars),
according to the estimates of the China Federation of Logistics and
Purchasing (CFLP).
China's demand for modern logistics continued to increase due to
fast economic growth, with the logistics demand elastic coefficient
(GDP to total logistics flow) in 2007 rising to 3.2 from 2.8 in
2006.
"Although the industry maintained stable development in 2007,
competition from foreign peers will mount in 2008 and the domestic
logistics sector will see increasing openness," said Lu Jiang,
chairman of the CFLP at a forum on international logistics
cooperation in Beijing Thursday.
Lu also pointed out challenges facing domestic logistics
enterprises, including insufficient information technology support
and unadvanced transportation methods.
(Xinhua News Agency January 11, 2008)
