China's logistics sector began to pick up in February after the conclusion of the Spring Festival in late January, data from the China Federation of Logistics and Purchasing (CFLP) showed on Tuesday.
In February, the index tracking the prosperity of the country's logistics market stood at 49.3 percent, showing a continued recovery as businesses resumed operation, major infrastructure projects started in various regions and industries across the supply chain were gradually recovering after the holiday.
Road and railway transportation sectors were operating in an expansion zone, with waterborne transport activity continuing to improve.
Multimodal transportation and postal express logistics sectors, particularly in e-commerce, saw an increase in their business activities, with the business volume indices for the two sectors reaching 55.6 percent and 66.3 percent, respectively, indicating a strong growth.
"Since February, demand for logistics in sectors such as consumer goods, metallurgy, chemicals and smart manufacturing has grown continuously, driving increase in physical logistics volume. The central and eastern regions of China have seen a marked rebound, especially in railway and road transportation, where new orders are consistently in an expansion zone," said Liu Yuhang, director of the China Logistics Information Center.
In February, logistics companies experienced a slowdown in the rate of cost increase and their main business profit index rose by 0.3 percentage points from the previous month.
Notably, road transportation, water transport, warehousing and multimodal transport sectors all saw varying degrees of profit growth from the previous month.
China's logistics sector shows positive recovery in February
The "soft landing" of the China-EU electric vehicle case will greatly boost market confidence and inject new momentum into China-EU cooperation in automobile trade and investment, a spokeswoman of the Ministry of Commerce (MOC) said at a press briefing in Beijing on Thursday.
He Yongqian, the spokeswoman, made the remarks after China and the European Union (EU) agreed on the necessity of providing general guidance on price undertakings for Chinese companies exporting battery electric vehicle (BEV) passenger cars to the EU.
"China and the EU simultaneously announced on Monday that they had achieved positive outcomes following multiple rounds of consultations on the EV case, a development that has drawn wide attention at home and abroad. Industry players from both sides have 'highly welcomed and fully endorsed' the outcome, saying the 'soft landing' of the case is expected to greatly boost market confidence and inject new momentum into China-EU cooperation in automobile trade and investment. Some EU politicians have described it as a positive step toward building a sustainable China-EU trade relationship, and said it demonstrated that resolving trade differences through partnership remains feasible," she said.
"Against the current international backdrop, China and the EU, acting in a spirit of mutual respect and within the framework of WTO rules, have properly addressed the EV case, which is of significant positive importance. The outcome will not only contribute to the sound development of China-EU economic and trade ties and help safeguard the stability of the global automotive industrial and supply chains, but will also send a clear and strong signal that both sides are willing to uphold a rules-based international trading order, setting a good example for countries to resolve differences through dialogue and consultation and injecting greater certainty and positive energy into global economic growth," she said.
"China appreciates the spirit of dialogue showed by the EU side and stands ready to work with the EU, building on the current positive outcomes, to further implement the consensus reached by the leaders of the two sides, maintain dialogue and communication, and support stable industrial and supply chains on both sides, continue to deepen cooperation on the basis of market principles, and make active contributions to the global green transition," she added.
"Soft landing" of China-EU EV case to significantly boost market confidence: MOC spokeswoman
"Soft landing" of China-EU EV case to significantly boost market confidence: MOC spokeswoman
