国内英语新闻:China to foster globally competitive logistics companies by 2011

BEIJING, March 14 (Xinhua) -- 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 on Friday.

    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-percent 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. The stimulus plan was designated not only to promote its industrial upgrade but support development of other industries, expand consumption and increase employment.

    As a composite service industry, logistics, comprising transport, storage, information industries and freight agencies, is an important part of national economy, said the plan.

    The cabinet has rolled out support plans for ten industries including steel, auto and textile, targeting industrial growth, as well as restructuring and upgrading.