Shanghai aims to be Asia Pacific logistics hub

Aug. 17, 2009 (China Knowledge) - Shanghai aims to become a logistics hub in the Asia Pacific region by 2011, according to a blueprint on the logistics industry released on Friday, the Shanghai Daily reported.

Under the stimulus plan, the city's logistics sector will grow of 10% annually and account for more than 13% of the city's GDP by 2011. In the meantime, the city will speed up the establishment of a logistics resource exchange center and set up public distribution centers to offer door-to-door logistics services focusing on agricultural products, medical equipment and medicine.

Manufacturers and logistics firms will also be encouraged to cooperate in the fight against the fallout from the economic crisis and to develop major logistics projects, according the plan.

Shanghai Vice Mayor Tang Dengjie said logistics services play an important role in every industry and are key to helping the city become an international financial and shipping hub.

Shanghai's logistics output rose 14.7% annually from 2006 to 2008 to RMB 179.4 billion, accounting for 13.1% of the city's GDP and 25.3% of the service industry's total.