China's National Logistics Costs Fall $5.3 Billion in H1 2017

Chinese authorities have massively reduced the country's logistics by canceling road tolls and encouraging internet-based freight brokerage.

National logistics costs fell by 35.6 billion yuan ($5.3 billion) in the first half of this year, accounting for 45.5 percent of annual cost reduction goals, according to the Ministry of Transport.

The decrease was prompted by a number of measures, including the cancellation of certain road tolls in provincial-level regions and a pilot of internet-based freight brokerages.

Fixed-asset investment in highways and waterways rose 23.8 percent year-on-year to 967.3 billion yuan in the first half, more than half the annual investment goal of 1.8 trillion yuan.

Lowering logistics costs is part of China's efforts to lower the corporate burden and economically upgrade.

The government has pledged to reduce taxes, clear fees and step up construction of national-level logistics hubs.