China to Straighten Transport Bottlenecks by 2020
China aims to ease transport bottlenecks which are affecting economic development by 2020 with a plan announced on Saturday to tackle issues such as excessive road tolls and poor connectivity and to ensure the smoother flow of goods.
Despite billions of dollars being invested in recent years on roads, railways and ports, China’s rapid economic growth has meant that transport facilities still easily clog up, raising the cost of doing business.
Last year, logistics costs made up 18 percent of gross domestic product (GDP), roughly double that of the developed world and higher even than Brazil or India, with a fractured industry made up of too many small players and lack of modern warehousing, the central government said in a statement on its website.
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