China's logistics demand maintains rapid growth in first three quarters

Source: Xinhua| 2021-10-31 19:36:36|Editor: huaxia

BEIJING, Oct. 31 (Xinhua) -- China's logistics demand maintained relatively rapid growth in the first three quarters of 2021, despite the sporadic resurgence of COVID-19 cases, extreme weather conditions and power cuts, according to the China Federation of Logistics and Purchasing (CFLP).

In the first three quarters of the year, the total value of goods in the logistics sector was 234.5 trillion yuan (about 36.69 trillion U.S. dollars), rising 11.4 percent year on year. The growth was 9.4 percentage points higher than the same period last year, CFLP data shows.

Logistics demand has generally maintained a recovery momentum since the beginning of the year, with its scale and growth rate higher than the same period before the pandemic, the CFLP said, adding that the sector shows great resilience and vitality.

The federation has attributed the growth to rising logistics demand from industries and consumption.

Data also shows that the total cost of logistics amounted to 12.1 trillion yuan during the period, a year-on-year increase of 15 percent.

The cost was slightly higher than the pre-pandemic level in 2019, showing that upstream and downstream supply chains are still in recovery, the CFLP said.

However, compared with the same period last year when COVID-19 was spreading rapidly, the efficiency of logistics operations has improved, and the resilience of supply chains has continued to increase, the CFLP noted.

The CFLP said it expects the total value of goods distributed through logistics in China to grow at around 10 percent for the whole year. Enditem

KEY WORDS: China,Logistics