China's logistics costs to GDP ratio remained at record low in Jan-Sept

BEIJING, Oct. 27 (Xinhua) -- China's social logistics costs totaled 14.2 trillion yuan (about 2 trillion U.S. dollars) in the first three quarters of the year, accounting for 14 percent of the country's gross domestic product (GDP) and maintaining their lowest level since records began, official data showed on Monday.

The ratio remained unchanged from the first half of the year but decreased by 0.1 percentage points from the same period last year, according to the National Development and Reform Commission.

China aims to cut the ratio of social logistics costs to GDP to around 13.5 percent by 2027 as it moves to improve economic efficiency, according to an action plan unveiled in November last year.

By 2027, the country expects to optimize its goods transportation structure further, and to strengthen its national logistics hub system and modern logistics services network, per the plan, which was issued by the general offices of the Communist Party of China Central Committee and the State Council.