China's logistics sector reported steady growth in the first eight months of this year despite a weakening global economic outlook, according to data released by the China Federation of Logistics and Purchasing (CFLP) on Saturday.
The nation's social logistics rose 5.4 percent year on year to 225 trillion yuan (about 32 trillion U.S. dollars) during the Jan-Aug period.
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China's logistics sector posts 5.4 pct growth in first eight months
China's logistics sector posts steady revenue growth in first eight months
China's logistics sector posts steady revenue growth in first eight months
China's logistics sector posts steady revenue growth in first eight months
This steady growth reflects ongoing structural shifts within the sector. Upstream and downstream industries continue to undergo transformation and upgrading, leading to noticeable structural adjustments in logistics demand.
The industrial goods logistics sector saw a 5.5 percent year-on-year increase in total value during the first eight months. While shipments of traditional products like cement and steel continued to decline in August, logistics for intelligent products, such as industrial robots and integrated circuits, maintained rapid growth of around 20 percent.
Consumer logistics also remained a strong driver of growth. The logistics for resident consumption rose by 7.8 percent year on year during the same period. Online retail outpaced traditional brick-and-mortar stores in driving logistics demand.
Regarding imports and exports, total import logistics grew by 4.3 percent year on year in the first eight months, while export logistics rose by 5.0 percent. However, against the backdrop of slowing global economic recovery and weakening manufacturing activity worldwide, the growth of international logistics has moderated. "The trend of steady growth in social logistics continued from January to August. The fact that the total value of social logistics achieved a year-on-year growth rate exceeding 5 percent for two consecutive months indicates the continued further release of social demand for the logistics industry," said Liu Yuhang, director of the CFLP.
China's logistics sector posts 5.4 pct growth in first eight months
China's logistics sector posts steady revenue growth in first eight months
China's logistics sector posts steady revenue growth in first eight months
China's logistics sector posts steady revenue growth in first eight months
