China's logistics demand improves in first five months

BEIJING - Logistics demand in China improved in the first five months of 2020 on the back of supporting policies to coordinate economic growth and the control of the COVID-19 epidemic, official data showed.

The total value of social logistics in the January-May period fell 2.2 percent year-on-year to 96.9 trillion yuan ($13.7 trillion), according to the China Federation of Logistics and Purchasing.

The drop narrowed from the 4.2-percent decline seen in the first four months.

In the first five months, total logistics costs came in at 5.1 trillion yuan, down 6.9 percent year-on-year.

The rising logistics demand came as China's economic activities continued to normalize as key economic indicators, including industrial output, retail sales and investment, showed signs of rebounds in the period.