As reported by China Securities Journal, the National Technical Committee on Logistics Information of Standardization Administration of China has announced the launch of a project entitled, ‘Key technology standards for important logistics fields.' The project covers logistics for important sectors such as steel and household appliances, with the steel side of the logistics project to be lead by the Steel Logistics Committee of the China Federation of Logistics and Purchasing.
On May 25, China's State Council reviewed and approved a document called ‘Plan to invigorate the logistics industry,' with the aim of the plan being to "further develop logistics in power resources, mineral mines, automobiles, agricultural products and pharmacy sectors." The ‘Key technology standards for important logistics fields' project comes within the scope of the plan in question.
Commenting on the steel side of the logistics project, Sheng Zhicheng, deputy secretary of the Steel Logistics Committee, said, "Logistics is a key element that can cause steel prices to change and inventory levels to rise. Some problems such as the massive change in steel prices and the control exerted by other countries over China's iron ore negotiations force us to take a look at the whole industrial chain, and so order and standards in logistics for the steel industry needs to be established quickly."