China reduced logistics costs by more than 88 billion yuan (13.4 billion U.S. dollars) in 2017, the Ministry of Transport said Monday.
The cuts were made through measures such as the removal of some road tolls in provincial-level regions and streamlined traffic services, according to the ministry.
Li Xiaopeng, minister of transport, said that China will continue to push supply-side structural reform in the transport industry and further lower logistics costs in 2018.
The country will expand pilot programs in highway toll collection and streamline some charges in ports, Li said.
Statistics from the National Development and Reform Commission showed that the cost of logistics in China took up about 14.9 percent of GDP in 2016, down by 1.1 percentage points from the previous year.
Although the ratio had dropped for four years in a row by 2016, it is still higher than some developing economies.
Authorities have stepped up reform in the transport sector this year to reduce the logistics burden of companies. Rail freight charges were canceled or lowered, while more means of financing were made available to companies in the logistics sector.
Rafael Devers sets team record by homering in 6th straight game as Red Sox top Rays 5
Outrage as Columbia president Minouche Shafik cancels all in
Paris main airport unveils new baggage handling system ahead of the 2024 Olympics
Police find body of missing Maine man believed killed after a search that took nearly a year
Rafael Devers sets team record by homering in 6th straight game as Red Sox top Rays 5
Epiphanny Prince retires from basketball after a 14
Chicago woman convicted of killing, dismembering landlord, hiding some remains in freezer
Chicago woman convicted of killing, dismembering landlord, hiding some remains in freezer
Elvis' granddaughter Riley Keough fights Graceland estate auction
Orioles call up another top prospect in OF Heston Kjerstad, who hit 10 HRs in 21 games at Triple
Turkish Airlines resumes flights to Afghanistan nearly 3 years after the Taliban captured Kabul
Canucks goalie Thatcher Demko will miss Game 2 against Predators