China’s logistics sector continues to grow

BEIJING (Xinhua) – China’s logistics industry continued to post steady growth in the first seven months of this year, official data showed.

The total value of social logistics in the January-July period grew 5.9 per cent year on year in comparable prices to 163.8 trillion yuan (about USD23.1 trillion), according to the National Development and Reform Commission (NDRC), the country’s top economic planner.

The value of industrial goods logistics expanded 5.8 per cent year on year to 148.5 trillion yuan, the NDRC data showed.

During the period, the value of imported goods logistics increased 2.1 per cent year on year to eight trillion yuan.

In July, the Logistics Performance Index released by the China Federation of Logistics and Purchasing stood at 51.1 per cent, down from 51.9 per cent in June but still in the expansionary territory.

A reading above 50 per cent indicates expansion, while below reflects contraction.