China's logistics sector has seen a steady increase in demand and continuously improved operations in the first 11 months of the year, thanks to the government's adoption of a series of policies for stabilizing the economy and promoting development, according to the latest official data released by the China Federation of Logistics and Purchasing (CFLP) on Sunday.
In the 11-month period, social logistics rose by 5.8 percent year on year to 320.2 trillion yuan (about 43.87 trillion U.S. dollars), according to the CFLP.
In November, social logistics increased by 5.8 percent year on year, which is 0.1 percentage point higher than the growth rate in October.
In the fourth quarter, logistics demand has seen steady and significant recovery, with the growth rate rising for two consecutive months in October and November, the data showed.
Owing to policies for implementing major national strategies, building up the security capacity in key areas, and upgrading large-scale equipment, the development of various fields, including industries, consumption and import, have accelerated, with the relevant structures continuously optimized.
Many industries including traditional manufacturing and high-tech manufacturing have shown signs of recovery, according to Liu Yuhang, director of China Logistics Information Center.
"Since the beginning of the fourth quarter, the production and business activities of the whole of society have undergone more positive changes. The logistics demands from more industries have picked up, with the demand growth rates of new growth drivers such as new energy manufacturing and electronic devices industries exceeding 20 percent," Liu said. The data showed that in November, more than 80 percent of Chinese industries saw increases in regional and industrial logistics demand.
In particular, the logistics demand growth rates of such bulk commodity industries as chemical, oil refinery and nonferrous metals were over 7 percent, and that of high-tech manufacturing was 7.8 percent.
In the meantime, policies promoting large-scale equipment upgrades and consumer goods trade-ins further unleashed room for the renewal of resources such as automobiles, home appliances and machinery, according to the data.
From January to November, the total logistics volume of renewable resources rose by 8.6 percent year on year, the data showed.
China's logistics sector logs 5.8-pct growth in first 11 months
China's logistics sector logs 5.8-pct growth in first 11 months
China's logistics sector logs 5.8-pct growth in first 11 months
