China's logistics sector grows steadily in 2015

Employees work at an Alibaba Group warehouse on the outskirts of Hangzhou, Zhejiang province Oct 30, 2014. [Photo/Agencies]

BEIJING - China's logistics industry grew steadily last year amid industrial restructuring and subdued economic growth, China's top economic planner said on Tuesday.

The total value of social logistics goods in 2015 expanded by 5.8 percent year on year to 219.2 trillion yuan ($33.7 trillion), said the National Development and Reform Commission (NDRC).

The gross revenue of the logistics industry hit 7.6 trillion yuan, up 4.5 percent over 2014, according to the NDRC.

China will encourage more sophisticated development of the logistics sector in the next five years to bolster economic growth and deepen supply-side reform, the NDRC said in a statement in March.

It promised policies during 2016-2020 to lower taxes and reduce cost in the logistics sector.