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China's logistics industry shows steady recovery

By Yang Yang | | Updated: 2021-08-25 15:45
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The first train on the China-Europe Railway Express Wuhan route departs from Wujiashan Station in the Dongxihu district of Wuhan, Central China's Hubei province, on Jan 26, 2021. [Photo/IC]

The recovery momentum for China's logistics industry continued from January to July this year, according to the China Federation of Logistics and Purchasing.

From January to July, the total amount of social logistics in China reached 179.2 trillion yuan ($27.66 trillion), up 14 percent year-on-year based on comparable prices.

In terms of industrial logistics structure, equipment manufacturing maintained steady growth and high and new technology continued to grow impressively.

The demand for equipment manufacturing logistics witnessed an increase of 6.4 percent year-on-year in July, an average growth of 9.7 percent over the past two years.

High-tech manufacturing continued to play a leading role in growth, with a year-on-year growth rate of 15.6 percent in July and a two-year average growth rate of 12.7 percent.

China's logistics market scale maintained rapid growth with strengthened supply capacity. From January to July, the total revenue of the logistics industry was 6.8 trillion yuan, up 20.8 percent year-on-year.

China's overall logistics operations from January to July were generally stable, and demand continued to recover steadily, the China Federation of Logistics and Purchasing said.

The high-quality development of China's logistics industry is projected to continue to improve in the second half of this year, as the country's macro economy maintains steady recovery momentum.

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