China, U.S. to enhance cooperation in logistics

China and the United States will enhance cooperation in logistics by jointly hosting a logistics exhibition next year, Wang Jinzhen, secretary-general of China Council for the Promotion of International Trade (CCPIT), said in Beijing on Tuesday.

The "Sino-American Logistics Conference and Exhibition 2007" will be held from July 18 to 20 next year in Beijing.

China hoped to borrow experience from the U.S. to update service management, personnel training and technology research and development, Wang said.

Meanwhile, China's booming economy will also provide great opportunities for U.S. logistics firms, Wang said.

In line with China's commitment on its entry to the World Trade Organization, the country's domestic logistics business opened to overseas investors in December last year.

China's logistics industry has developed rapidly. The turnover of the industry totaled 48 trillion yuan (six trillion U.S. dollars) last year, compared with 19.4 trillion yuan in 2001.

Source: Xinhua