China's logistics business volume index highest this year in November

The index released by the China Federation of Logistics and Purchasing showed that the country’s logistics market stood at 52.8 per cent last month, marking a slight rise of 0.2 percentage points from October 2024.

The business volume index was 70.6 per cent for postal express delivery, 56.2 per cent for air transport, and 55.8 per cent for railway transport.

Region-wise, the business volume index was higher than the country’s average at 53.7 per cent in the central region, while the index exceeded 52 per cent in the western and eastern regions.

In recent years, China’s logistics sector has witnessed a steady growth. This year, overall social logistics in the country is likely to reach approximately 360 trillion yuan (~$50.7 trillion), as per the Federation report.

Earlier this week, the Chinese government released a plan to build a modern commercial circulation system that integrates domestic and international markets, bridges urban and rural areas, aligns production with sales and ensures efficient operations, as per Chinese media reports.

The plan is projected to be completed by 2027. For the purpose, the government will further improve its logistics and distribution systems across the length and breadth of the country and accelerate the growth of new business models like livestream e-commerce. Moreover, efforts will also be made to create various digital supply chain service platforms.

Fibre2Fashion News Desk (SG)