China to boost innovative growth of logistics sector

BEIJING - China will promote the innovative development of logistics sector in the next five years to bolster economic growth and deepen supply-side reform, said the top economic planner on Tuesday.

More innovative policies will be unveiled during 2016-2020 to lower taxes and reduce cost in the logistics sector, said the National Development and Reform Commission (NDRC).

The Beijing-Tianjin-Hebei agriculture products logistics network will be strengthened and the development of Yangtze River Golden Waterway logistics service system will be accelerated.

NDRC data showed that China's total value of social logistic goods was estimated at 220 trillion yuan ($33.8 trillion) last year with an annual growth of 8.7 percent during 2010-2015.