China's logistics sector shows robust demand, steady operation in November

China's logistics sector showed robust demand and steady operation, with the total business volume index of most industries in the expansion range, according to the logistics prosperity index for November released by the China Federation of Logistics and Purchasing (CFLP) on Tuesday.

The logistics prosperity index was 52.8 percent in November, up 0.2 percentage points from the previous month.

The logistics demand remained strong, driving the rise in the business volume index. Particularly, the logistics activity in the central region outpaced that of other regions in the country, with a total business volume index reaching 53.7 percent, surpassing the national level by 0.9 percentage points.

Since the start of the fourth quarter, the steady release of demands for industrial upgrading and renovation and consumption potential has led to increased logistics demands in areas such as communications equipment, electrical machinery, furniture and home appliances, agricultural and sideline products, and new energy vehicle manufacturing.

Meanwhile, there has been a notable seasonal rebound in energy resources and raw materials demands, propelling most industries to sustain an expanding trend in the total business volume index. Among them, the railway transportation, air transportation, and express delivery services have seen their total business volume indexes reach the high prosperity levels at 55.8 percent, 56.2 percent, and 70.6 percent, respectively.

In November, the fixed asset investment completion index in the logistics sector remained in the expansion range, surpassing 51 percent. Enterprise surveys indicate that the growth rate of infrastructure investment is generally stable, with a notable demand for digital and platform-based investments.

From the recent trends, the business activity expectation index has consistently stayed in the high prosperity zone, exceeding 57 percent for three consecutive months.

"The continuous rise in the logistics prosperity index indicates a notable growth in the demand for logistics within our country's economic performance. The further heightened activity across various aspects of logistics also indicates that logistics is offering robust support for the recovery and growth of our national economy," said Cai Jin, vice president of the CFLP.

China's logistics sector shows robust demand, steady operation in November

European Union (EU) countries gave final approval on Thursday to an amendment of the European Climate Law, setting a binding intermediate target to cut the bloc's net greenhouse gas emissions by 90 percent by 2040 compared with 1990 levels, reinforcing the EU's path toward climate neutrality by 2050.

Under the amended law, from 2036 EU member states will be allowed to count "high-quality international credits" towards meeting the 2040 target, capped at 5 percent of the EU's 1990 net emissions. This means at least 85 percent of the emissions reductions must be achieved within the bloc, the Council of the EU said in a statement.

The credits must be based on credible greenhouse gas reduction activities in partner countries and be aligned with the Paris Agreement, the statement added.

The amended law also delays the launch of the EU's emissions trading system covering road transport, buildings and other sectors, shifting its start date from 2027 to 2028.

The adoption of the amendment marks the final step in the legislative process. The amended regulation will enter into force 20 days after its publication in the Official Journal of the EU and will apply directly across all EU member states.

The European Climate Law was first adopted in 2021, setting a legally binding target of climate neutrality by 2050 and a 2030 goal to cut net emissions by at least 55 percent from 1990 levels.

EU countries approves 2040 target to cut net emissions by 90 pct