High-tech manufacturing, pro-consumption policies fuel logistics growth this year

China's logistics sector showed stable performance in the first two months of this year, driven by surging demand for high-tech manufacturing and the continued implementation of pro-consumption policies.

From January to February, the country's total social logistics value increased by 5.3 percent year on year, reaching 56.3 trillion yuan (about 7.75 trillion U.S. dollars), according to data released by the China Federation of Logistics and Purchasing (CFLP) on Sunday.

During the period, the total logistics volume of industrial products rose 5.9 percent year on year, accelerating by 0.1 percentage points compared to the growth rate of 2024. Notably, logistics demand in high-tech manufacturing surged by 9.1 percent year on year, accelerating by 0.2 percentage points compared to that of 2024.

"The logistics sector is undergoing a noticeable optimization and adjustment in its demand structure. Particularly, there has been a sharp increase in demand for robots, industrial computers, and control systems, as well as materials like carbon fibers, rare earths, and magnetic materials, which have maintained a high growth rate of over 30 percent," said He Hui, vice president of the CFLP, in an interview with China Central Television.

Meanwhile, policies encouraging large-scale equipment upgrades and consumer goods trade-ins have bolstered logistics demand in related industries.

Notably, both the logistics demand for railway transportation equipment manufacturing and urban rail transit equipment manufacturing saw year-on-year growth exceeding 20 percent, while the logistics demand for automobile manufacturing grew by 12 percent, maintaining double-digit growth for four consecutive months.

The logistics demand for home appliance manufacturing also showed a positive trend, growing by 10.1 percent.

As part of efforts to boost domestic consumption, pro-consumption action plans continued to be implemented, contributing to increased logistics demand in rural areas and the e-commerce sector.

From January to February, the retail sales of consumer goods in counties and townships accounted for 38.4 percent of the total retail sales, an increase of 0.3 percentage points compared to the same period last year.

High-tech manufacturing, pro-consumption policies fuel logistics growth this year

China's Minister of Commerce Wang Wentao met with global pharmaceutical leaders in Beijing for a high-level dialogue.

The meeting brought together policymakers and senior executives from multinational drugmakers including Novartis, AstraZeneca, Roche, Boehringer Ingelheim and Organon.

"The pharmaceutical industry is vital to human health, we welcome your views and suggestions on development in China,” Wang said while addressing participants at the high-level dialogue.

Drawing growing global attention, China is now one of the world’s fastest-evolving markets and is signaling openness by inviting deeper engagement from multinational companies already investing in the country, according to U.S. pharmaceutical officials.

"For the innovative pharmaceutical sector, China has become one of the world's largest and fastest evolving markets, playing an increasingly global role," said Stephen J. Ubl, president and chief executive officer of the Pharmaceutical Research and Manufacturers of America (PhRMA).

From cutting-edge biotech to large-scale manufacturing, global firms say China’s appeal lies in its unique combination of scale and capabilities.

"Key factors in this evolution include China's large patient population, scientific talent, clinical research capacity, and investments in science and healthcare," said Ubl.

China’s commerce minister meets global pharma leaders