History
China is in the midst of a massive upgrade of its transport infrastructure. Until recently, China's economy was able to continue to grow despite deficiencies in infrastructure development. This is no longer the case, and the Government realizes that to keep the economy moving forward, they need an efficient system in place to move goods and people across the country. According to World Bank statistics, goods lost due to poor or obsolete transport infrastructure amounted to one percent of China's GDP as recently as the most current survey (mid 1990s). Logistic costs account for 20% of a product's price in China, compared to 10% in the United States, and 5% in other developed countries.
Ports are being improved for greater use of China's waterways, and airports are being improved across the country. Related industries such as construction equipment, engineering, container security, and electronics and safety devices have also grown rapidly.
Read more about this topic: Transport In China
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