The growth rate of the total revenue of China's logistics sector has increased for three consecutive months as of November, as industrial demand rebounds ensured stable and rising vitality in the industry, according to data released by the China Federation of Logistics and Purchasing on Sunday.
From January to November, the total revenue of the logistics industry stood at 12.5 trillion yuan (about 1.71 trillion U.S. dollars), up 4 percent year on year, which is 0.2 percentage points higher than the growth rate of the Jan-Oct period, the data showed. The revenue growth quickened for the third consecutive month in November.
The business volume indexes for more than 80 percent of the logistics sub-sectors were in the expansion zone, with those for railway, e-commerce, express delivery and the warehousing industry picking up.
In November, the average daily loadings of the state railway reached a record 194,000 cars.
In the month, China's e-commerce logistics sector handled 17.21 billion parcels, a year-on-year increase of 14.9 percent.
In the first 11 months of the year, various links of the logistics sector maintained stable operation, with the structure optimized and cross-modal integration deepened.
The freight volume of raw materials and bulk commodities rebounded significantly in the period.
In November, the proportion of railway and water transportation increased by 0.2 percentage point from the same period last year.
In the meantime, intermodal transport such as rail-water freight and road-rail freight has developed rapidly.
"Thanks to the development of new quality productive forces, transportation has gradually become more intensive, with larger-scale organizations and chain store management. The core objective is to effectively reduce logistics costs in the society and fully utilize social resources," said Zhou Wei, a researcher at the Research Institute of Highway of the Ministry of Transport.
So far, more than 3,000 online freight platforms across the country have used digital technologies to reduce costs and improve efficiency, according to Zhou Zhicheng, director of the Research Office of the China Federation of Logistics and Purchasing.
"Some central enterprises and state-owned enterprises have established supply chain innovation platforms. We hope to have more data and bring together data from railways, ports and the customs on the internet to make better use of data resources and better empower real economy," Zhou said.
China's logistics sector sees incremental growth of total revenue
China's logistics sector sees incremental growth of total revenue
Chinese Foreign Minister Wang Yi and his Argentine counterpart, Pablo Quirno, on Friday pledged to solidify the comprehensive strategic partnership and deepen cooperation across multiple sectors.
During their meeting on the sidelines of the Munich Security Conference, Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, recalled Chinese President Xi Jinping's meeting with Argentine President Javier Milei in 2024 and said China is ready to fully implement the consensus reached by the two heads of state to improve the well-being of the two peoples.
The two sides should remain committed to the right direction of bilateral relations, he said, calling for enhanced friendly exchanges at all levels and firm support for each other on issues concerning core interests.
He emphasized the resilience of bilateral ties between China and Argentina over the past 54 years since diplomatic relations were established, noting that the two countries have always respected each other and treated each other as equals, and the relationship has weathered international changes with remarkable vitality.
Noting that China and Argentina are economically complementary with a solid foundation for practical cooperation, Wang proposed deepening collaboration in economy and trade, technology, finance, and mining, and welcomed Argentina to utilize platforms such as the China International Import Expo and the Canton Fair to bring more quality products to the Chinese market.
He also expressed hope that Argentina would provide a fair, transparent, and non-discriminatory business environment for Chinese enterprises, and welcomed Argentine citizens to take advantage of the visa-free policy for trips to explore China.
"China's development and growth represent a reinforcement of peace and stability in the world," Wang said. "We never engage in geopolitical contests, nor do we ask other countries to take sides. China-Argentina cooperation is not targeted at any third party, nor should it be disrupted by any third-party factors."
For his part, Quirno said Argentina and China are each other's major trading partners and enjoy a comprehensive strategic partnership, stating that Argentina has benefited significantly from cooperation with China.
He also conveyed gratitude for China's valuable support on the sovereignty issue of the Malvinas Islands and for its assistance during Argentina's economic difficulties. Quirno reaffirmed Argentina's firm commitment to the one-China principle.
The Argentine foreign minister expressed hope for closer exchanges with China and deeper cooperation in trade, energy, mining, and finance. He welcomed Chinese enterprises to invest and operate in Argentina.
China, Argentina pledge mutual support on core interests, deeper economic cooperation
