Shanghai intends to invest Yn10bn to develop itself as a logistics centre for the Asia-Pacific region, said vice-mayor Zhou Yupeng. The city will build an international logistics base in Waigaoqiao Free Trade Zone, which will combine transport and information platforms.
Hu Wei, chairman of the zone's administration committee, said that by 2010, the added value of the logistics industry would account for half of the zone's total economic added value. To achieve this, the zone would need to attract 20 shipping lines, 40 international third-party logistics providers and 200 local logistics businesses by 2010.