China will foster a number of globally competitive logistics companies by 2011, said a stimulus plan of the country’s logistics industry released on the government website. All departments and local governments are urged to make efforts to achieve the goal, according to the plan, issued by the State Council, or the cabinet. It said local authorities should help logistics companies solve problems in their development, realize a 10% annual growth in their output and lower the proportion of logistics expenses in the country’s GDP. The cabinet said in a notice that the country’s logistics industry was affected by the unfolding global financial crisis.
