The logistics sector in China witnessed steady growth in the first seven months this year, with social logistics rising by 3.1 per cent year on year (YoY) to about 190 trillion yuan ($27.57 trillion) during the period, the China Federation of Logistics and Purchasing said in a recent report. Logistics for industrial products went up by 3.5 per cent YoY during the period—up by 0.1 percentage points from that in the first half.The total revenue of the logistics industry rose by 6 per cent YoY to 7.2 trillion yuan during the seven-month period, an official news agency reported.
China's logistics sector witnessed steady growth in the first seven months this year, with social logistics rising by 3.1 per cent year on year (YoY) to 190 trillion yuan ($27.57 trillion) during the period, the China Federation of Logistics and Purchasing said in a report. Logistics for industrial products went up by 3.5 per cent YoY during the period.
China’s index for tracking logistics market performance dropped to 46.3 per cent in August—a fall of 2.3 percentage points from July this year. An index reading below 50 points shows contraction while a reading above 50 signifies expansion.
The dip in logistics activities in the country can be attributed to hot, rainy weather as well as COVID-19 outbreaks in some places.
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