The Chinese Ministry of Transport is aiming to cut logistics costs throughout society by 300 billion yuan (about 41 billion U.S. dollars) in 2025, it said at a press briefing on Friday.
The ministry will speed up the construction of major projects it has listed for improvement of the national comprehensive multidimensional transportation network next year, Vice Minister of Transport Li Yang told the press conference held by the State Council Information Office in Beijing.
"We expect to cut logistics costs of the whole society by 300 billion yuan (about 41 billion U.S. dollars) in 2025, which will bring strong support to the growth of the real economy, especially the manufacturing sector. Transportation is a part of the logistics costs for the whole society, which mainly include transportation costs, storage costs and management costs. We hope that by giving play to the advantages of the integrated transportation system and promoting the shift of freight transport from roads to railways and waterways, we can better contribute to reducing costs, upgrading quality and increasing efficiency," said the official.
In 2025, the Ministry of Transport will promote further reform of the integrated transportation system, advance reform of the railway system, and accelerate the development of general aviation and the low-altitude economy, the official said.
China aims to cut logistics costs by 41 billion USD in 2025: official
The Boao Forum for Asia (BFA) 2026 Annual Conference opened in the town of Boao, south China's Hainan Province on Tuesday with an eye on China's vibrant economic development and global free trade.
On the first day of the annual conference, seven sub-forums were held, focusing on topics such as China's economic outlook, global free trade ports, and the green economy.
As 2026 marks the start of China's 15th Five-Year Plan (2026-2030), attendees at the BFA say China's economy has entered a new stage of high-quality development, which will bring tremendous opportunities to the rest of the world.
"China has changed from a factory to an innovation center of the world. So now, [when] we talk about any technology -- renewable energy, green development [and] AI -- China is leading the world. This change has taken place in a very short period of time," said Zafar Uddin Mahmood, policy advisor to secretary general of the Boao Forum for Asia.
"The type of planning is very positive for business in a general way, because it brings a lot of stability [and] predictability for a businessman," Bernardo Mendia, secretary-general of the Portugal-China Chamber of Commerce and Industry, said of China's five-year plan that charts the country's path for social and economic development in the next five years.
The BFA also released two flagship reports, one on Asia' economic outlook, and the other on sustainable development.
The first report, titled "Asian Economic Outlook and Integration Progress", indicated that Asian economies remain the primary engine of world economic growth, with their global share of gross domestic product expected to rise from 49.2 percent in 2025 to 49.7 percent in 2026. It also highlighted how China and ASEAN (the Association of Southeast Asian Nations) continue to stand out as regional "stability anchors."
The second report, which was titled "Sustainable Development in Asia amid Global Transformation", noted that Asia is leading the global energy transition, with the region accounting for some 70 percent of annual new clean energy capacity installations worldwide.
This year's BFA, themed "Shaping a Shared Future: New Dynamics, New Opportunities, New Cooperation," features four core topics and more than 50 sub-forums, roundtables and dialogue sessions.
Founded in 2001, the BFA has grown into a key platform for addressing Asian issues and strengthening cooperation both within the region and globally.
Boao Forum for Asia Annual Conference 2026 opens in China's Hainan Province
