Chongqing still suffers from higher logistics costs than the coastal cities of eastern China despite its economic growth rate far exceeding the national average, Xinhua reports.

This emerged at the recent 2nd Annual Meeting of Chongqing Mayor's International Economic Advisory Council held in Chongqing.

How to compress logistics costs is a question all Chongqing companies face, said the visiting Shane Tedjarati, vice president of America's Honeywell Investment Co.

As the space for logistics cost reduction in Chongqing is greater, paying attention to its development will be more profitable in Chongqing than elsewhere, Mr Tedjarati reasoned.

Besides Mr Tedjarati, senior officials of about 20 transnationals including Suez, Microsoft, Carrefour, HP and Ericsson, attended the meeting and made observations on local logistics development, the report added.