Restructuring and tech key to lowering logistics costs

The ratio of total social logistics costs in China's GDP will be reduced to around 13.5 percent by 2027, said an action plan recently released by relevant central departments for reducing logistics costs.

In 2023, the ratio of China's total logistics costs to GDP was 14.4 percent, down 0.3 percentage points from 2022, reflecting an improvement in domestic logistics efficiency.

However, compared with developed countries, there is significant room for enhancement.