China plans to open up its logistics industry to foreign direct investment

China’s Ministry of Commerce on Monday plans to launch a “federal network” of foreign direct investments by 2020, which would include all companies that use logistics to supply their supply chain, with the aim of reducing costs and ensuring greater efficiency.

“We have decided to implement the new federal network of logistics companies by 2020.

This will create new opportunities for international companies to invest in China,” the ministry said in a statement.

It added that foreign direct investors could invest in logistics firms with a minimum of 10% of their gross revenue, with “more firms” able to invest at up to 40% of gross revenue.

China is currently one of the world’s top three logistics players, with over 100,000 companies operating across the country.

Its largest logistics firm, Dalian Wanda Group, employs around 30,000 people.

It is the largest exporter of liquefied natural gas (LNG) in the world.