China’s logistics sector exhibited signs of sustained recovery in the month of August, driven by increased demand across various sectors, bolstered by supportive government policies. According to a recent industry report, the value of social logistics in China rose by 5.2 percent year-on-year during this period, reflecting a positive trend in the industry’s performance.
Over the first eight months of the year, social logistics experienced a year-on-year growth of 4.8 percent, reaching a total value of 216.4 trillion yuan, equivalent to approximately 30 trillion U.S. dollars. This growth rate marked a slight increase of 0.1 percentage points compared to the preceding seven months.
Breaking down the figures, it was observed that logistics services for industrial products saw a 4.5 percent year-on-year increase in August. Meanwhile, logistics for imported goods demonstrated substantial growth, with an impressive 18.4 percent year-on-year rise during the same period, indicating a surge in international trade activities.
Total revenue generated by China’s logistics industry also experienced a positive upswing, increasing by 4.7 percent year-on-year to reach a total of 8.7 trillion yuan in the first eight months of the year, as reported in the industry report.
Despite these encouraging numbers, the China Federation of Logistics and Purchasing noted that the current pace of recovery in the social logistics sector is not as robust as desired. However, they remain optimistic about the sector’s prospects, anticipating that activities within the logistics industry will continue to improve steadily in the fourth quarter of the year as demand further escalates.
This report highlights the resilience of China’s logistics sector and its capacity to adapt to evolving market dynamics. The ongoing recovery is seen as a positive sign, not only for the logistics industry but also for the broader Chinese economy, as it signifies increased economic activity and a return to growth following challenging periods. The role of supportive government policies in sustaining this recovery is evident and underscores the importance of policy measures in stimulating economic sectors during times of uncertainty.