At a working conference of the State Council, China's Cabinet, Premier Li Keqiang advocated fostering "Internet Plus" logistics, so as to promote the upgrading of China's logistics industry, which will benefit China's economy as a whole.

Li said it is necessary to further promote the efficiency of the logistics industry by more deeply applying internet technologies.

In recent years, logistics costs as a percentage of China's GDP have been reduced from 20 to 16 percent, but that's still higher than the global average.

The logistics industry is of special importance to the economy, not only because it helps other industries develop, but also because it offers large numbers of jobs that help stabilize the labor market.

Li said, government agencies should render more support to the logistics industry, especially smaller enterprises, by simplifying administrative approval procedures. Banks are also to be encouraged to issue loans to them so as to help the industry prosper.

Source: China daily.com