China's logistics sector remains stable

Source: Xinhua | 2019-10-28

China's logistics industry continued to post steady growth in the first nine months of this year, official data showed.
The total value of social logistics in the January-September period grew 5.7 percent year on year to 215.9 trillion yuan (about 30.5 trillion U.S. dollars), according to the China Federation of Logistics and Purchasing (CFLP).
The growth rate was down 1 percentage point from the same period last year.
In the first nine months, total logistics costs came in at 10.2 trillion yuan, up 7.5 percent year on year.
Although logistics sector is facing rising operation costs, the demand has continued stable growth momentum and the industry remained in the expansionary territory, the federation said.
Data showed the Logistics Performance Index stood at 52.1 percent in the first three quarters, staying in the expansionary territory for seven consecutive months.
A reading above 50 percent indicates expansion, while that below it reflects contraction.