Tech potential delivering huge growth to logistics

By Liang Kaiyan | China Daily | Updated: 2019-05-30 07:25

China's logistics industry has huge potential, thanks to the country's expanding consumer markets, industry insiders said.

"With the rapid development of China's economy, logistics is facing an increasing demand from all walks of life," said Meng Haijun, an executive of Beijing North Star.

The company has organized an exhibition at the ongoing 2019 China International Fair for Trade in Services, focusing on intelligent logistics services.

More than 10 companies will show their latest technologies in the logistics field at the event, Meng said.

"This is the first time for the company to launch a logistics exhibition at the CIFTIS and we hope to provide a platform for companies to seek more cooperation opportunities at home and abroad," she said.

Global Logistic Properties, a Singapore-headquartered provider of logistical solutions, is showcasing its intelligent system at the event. The system is composed of platforms including a logistics network, financial service and digital technology. "It can expand our business scale by providing clients and partners with creative solutions, to help them reduce costs and increase operational efficiency," said Zhao Mingqi, co-president of GLP China.

In the past, the logistics industry in China mainly depended on manual work. But a labor shortage and low efficiency brought challenges, Zhao said.

"With the development of the internet of things, big data and artificial intelligence, these advanced technologies have been applied to the logistics industry."

China's economy transformed after the 2008 financial crisis. Domestic demand has played a bigger role in driving national economic growth, Zhao said. She added that the public tends to have a growing demand for high-quality products and services.

"Internet technology has promoted the development of e-commerce, which helps to boost the country's consumer markets," Zhao said.

To date, the company has 42 strategic investment areas and has developed 336 parks featuring the logistics industry and high technology in China.

"In the next five to 10 years, advanced technologies will be more widely used in the logistics industry, which is conducive to speeding up the development of intelligent logistics services," Zhao said.

liangkaiyan@chinadaily.com.cn