South China's Shenzhen Expands Logistics

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Last updated at: (Beijing Time) Tuesday, December 17, 2002

South China's Shenzhen Expands Logistics

Shenzhen City in south China's economic powerhouse of Guangdong Province is striving hard to build itself into a regional modernized logistics center.

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Shenzhen City in south China's economic powerhouse of Guangdong Province is striving hard to build itself into a regional modernized logistics center.

Wang Suiming, vice mayor of Shenzhen, said a range of measures will be taken, including introduction of preferential treatment for the use of land and electricity to encourage a rapid development of logistics in Shenzhen, which faces Hong Kong acrossa river.

According to Wang, 65 billion yuan (about 7.83 billion US dollars) will be spent in financing logistics projects in Shenzhenin the 10th five-year-plan period (2001-2005).

Of the total, 50 billion yuan (about 6.02 billion US dollars) will go to infrastructure construction, 20 billion of which will come from governmental financing, said Wang.

Wang hoped the logistics industry will contribute 20 percent toShenzhen's gross domestic product (GDP) by 2005, with the added value amounting to 60 billion yuan (about 7.23 billion US dollars).

Shenzhen, also one of China's five special economic zones, boasts fine conditions for developing logistics with its marine, land and air transport services.

Shenzhen Port will be able to handle 85 million tons of cargo and 8 million TEU a year by 2005, by which time the airports in Shenzhen will be able to handle 410,000 tons of cargo annually.

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