China's logistics sector shows positive recovery in February

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

South Korean President Lee Jae Myung said on Wednesday that Seoul firmly adheres to the one-China principle, in comments made ahead of his upcoming state visit to China.

The remarks were made in an interview with China Media Group (CMG). The visit is scheduled for Jan 4–7.

"The consensus reached between governments of the Republic of Korea and China when diplomatic relations were established continues to be the fundamental principle governing our relations, and its effectiveness remains steadfast. I want to clearly state that the ROK has always adhered to the one-China principle. Maintaining peace and stability in regional matters, including in Northeast Asia and concerning the Taiwan issue, holds significant importance to us," said Lee.

"The foundational relationship between the ROK and China was established on a very principled and fundamental basis from the beginning. It is clear that the ROK government has always adhered to this position and has never wavered from it. I believe that the sound development of ROK-China relations depends on both sides fully respecting each other's core interests and being mutually tolerant of each other's positions. In this context, we will, as always, uphold the one-China principle as the Taiwan issue is China's most fundamental concern," he said.

ROK president reiterates firm adherence to one-China principle