[photopress:logistics_odd_image.jpg,full,alignright]Senior officials with the National Development and Reform Commission state that China will continue to develop its service industry and make logistics a key sector.
Zhu Hongren, deputy chief of the Bureau of Economic Operations under NDRC, China’s top planning agency, said, ‘China’s overall industry production maintained stable growth, with slower expansion in a few high energy-consuming and polluting sectors. The service industry, which is greener, kept a double-digit growth boosted by sectors such as logistics.’
The figures are amazing:
Industrial output rose 18.5% in the first nine months, accelerating 1.5 percentage points from a year earlier.
The profit reaped by industrial enterprises surged 37% year on year to RMB1.56 trillion (US$208 billion) through August.
Sales of China’s service industry expanded 11% to RMB6.4 trillion through September.
The logistics sector posted earnings of RMB1.13 trillion through the third quarter, an increase of 17.6% from a year earlier.
Wang Huimin, an NDRC official, said, ‘Fixed-assets investment in logistics increased 18.8% to RMB943 billion, which is expected to further boost the development of the industry.’
However, the rising price of raw materials puts the government under pressure to strengthen economic controls.
China has now raised the prices of gasoline, diesel and aviation kerosene by RMB500 per ton, further boosting the producer price index and consumer price index.
Zhu Hongren said, ‘We are fully aware of the accelerating growth of production costs and will take some measures to stabilize the momentum.’ He gave no further details.
He added, ‘As for the price increase of oil, from our observation the supply is relatively stable so far and can meet the demand of the market.’
Source: Shanghai Daily