THE National Development and Reform Commission (NDRC) says China's "social logistics", the total value of turnover in the country's logistics sector, came to CNY125.4 trillion (US$19.1 trillion) last year, up 15 per cent year on year, also representing 3.7 per cent more growth than in the previous year, Xinhua reports.

    The sum is slightly higher than the previous prediction of CNY125 trillion from the China Federation of Logistics and Purchasing, and is 160 per cent more than the sum in 2005, indicating an average yearly growth rate of 21 per cent.

    Industrial product logistics value amounted to CNY113.1 trillion, up 14.6 per cent, representing 90.2 per cent in the social logistics value total. Import cargo logistics value grew 22.1 per cent to CNY9.4 trillion. Agricultural product logistics value increase 4.3 per cent.

    Social logistics costs totalled to CNY7.1 trillion last year, up 16.7 per cent. Transportation costs climbed 14 per cent to CNY3.8 trillion, taking up 54 per cent of the total. Storage costs increased 20.5 per cent to CNY2.4 trillion, taking up 33.9 per cent of the total. Management costs rose 19 per cent to CNY0.9 trillion, accounting for 12.1 per cent of the total.

    The NDRC said the ratio of China's social logistics value to GDP was 17.8 per cent, 0.3 per cent down from the preceding year, indicating a slightly more efficient operation of the logistics industry last year.

(Source:http://www.schednet.com)