Shanghai: Logistics costs in China are double those of developed countries while management techniques are 20 years behind, according to Cai Jin, vice chairman of the China Federation of Logistics and Purchasing (CFLP).
Speaking at a recent national logistics summit, Cai pointed out that China's logistics cost takes up 17.8 per cent of GDP, while Europe's and US' take up only eight to 10 per cent, reported Xinhua.
"If China's logistics cost can be reduced to the same level as in the developed countries, a collective sum of over RMB4 trillion (US$628bn) cost can be saved every year, bring huge benefit to the whole society," he said. [10/08/12]
