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China's logistics sector sees slower growth in H1

Xinhua | Updated: 2013-08-06 09:32

BEIJING -- China's logistics sector reported a 9.1-percent rise in the total value of goods transported in the first half of 2013, according to data released by the China Federation of Logistics and Purchasing on Monday.

The growth rate slowed by 0.3 percentage point from the first quarter, and decreased by 0.9 percentage point compared to the same period last year, the data show.

During the first half, new value created in the sector hit 1.8 trillion yuan ($291.4 billion), up 7.4 percent year on year.

However, the growth rate retreated by 2.9 percentage points and the sector's total expenditures rose 9 percent to 4.5 trillion yuan, with the growth rate down 2.8 percentage points year on year, according to the data.

The federation said that a sluggish shipping industry due to gloomy international trade and overcapacity in the commodities logistics sector were among the factors slowing the sector's growth.

An index tracking the sector's overall running also slowed to 52.4 percent in July, down 0.7 percentage point from June. The data marked the fourth straight month of continuous slowdown in the industry.

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