Shanghai to be Asia Pacific logistics hub | Shanghai Daily

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Shanghai to be Asia Pacific logistics hub

SHANGHAI aims to be the logistics hub of the Asia Pacific by 2011, the city said in a stimulus plan on boosting the logistics industry today.

Output of logistics industry in Shanghai will keep an annual growth of 10 percent and account for more than 13 percent of the city's gross domestic product by 2011, according to the plan.

"Logistics service plays an important role in every industry and is a key support to help build the city into an international financial and shipping center," Shanghai Vice Mayor Tang Dengjie told a news conference today.

The city will speed up establishment of a logistics resource exchange center and set up public distribution centers to offer door-to-door logistics services, especially agricultural products, medical equipment and medicines.

It will also encourage manufacturers and logistics firms to cooperate to fight against the fallout from the economic crisis and develop major logistics projects, the plan said.

The city's logistics output increased 14.7 percent annually from 2006 to 2008 to reach 179 billion yuan (US$26.3 billion), accounting for 13.1 percent of the city's GDP and 25.3 percent of the service industry.

However, the global financial crisis dampened external demand, leading to fallout in traditional logistics companies.




 

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