China logistics market value hits US$267.5 billion

THERE have been more than 20,000 logistics companies in China and market value of the logistics industry has reached CNY2 trillion (US$267.5 billion), said the vice-president of China Federation of Logistics & Purchasing (CFLP), Dai Dingyi.

The logistics industry in China has developed rapidly in recent years and total logistics value in the first half of this year increased 25.6 per cent year on year, while added value of logistics industry grew 17.2 per cent, Mr Dai said.

Cargo transportation volume of the industry came to 10.5 billion tons, an increase of 11.9 per cent, he added.

Mr Dai also announced that the CFLP will hold the 2008 International Logistics Enterprises Co-operation Summit in Beijing January 10-11.