Bright Prospect for Logistics Industry in ChinaWith China's entry into the WTO approaching, China is facing a big opportunity to develop its logistics industry, said experts at the "China Logistics 2000" symposium which ended Friday in Shanghai.Experts from the World Bank and the Asia Pacific Logistics Institute said that China's stable open policy, continuous economic development, potential market, and low-cost labor force provides an excellent basis for developing China's logistic industry. Statistics said that the total amount of imports and exports increased from US$20.6 billion in 1978 to US$194.9 billion in 1999. China cut its tariff to 17 percent last year and did trade business with 227 countries and regions. Modern logistics is made up of different sectors such as booking, transportation, storage, processing, and distribution. China needs to make all the sectors connected to become a network, said experts. |
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