BEIJING: China’s logistics sector achieved steady recovery in 2023 and the country remains the world’s largest logistics market in terms of demand, China Federation of Logistics and Purchasing said on Saturday.
According to a report from CCTV, He Liming, the chairman of the China Federation of Logistics and Purchasing, announced at the 7th Annual Freight Logistics Conference in Beijing that the total revenue from logistics is projected to reach 350 trillion yuan (equivalent to approximately $49.18 trillion) by 2023.
Noting that China’s modern logistics industry continues to enhance its position in the national economy, he said the sector is entering a stage of moderate growth.
He Liming stated that the logistics demand has remained relatively stable due to the modest enhancement of fiscal policies and the implementation of flexible and suitable monetary policies. Moreover, as final consumption continues to rebound, it will lead to consistent growth in production and import demand, thereby establishing mode
rate market growth as the standard.
He further stated that there has been a continuous enhancement in the competitive capabilities of China’s logistics enterprises. In the year 2023, the combined revenue of the 50 leading domestic logistics companies surpassed 2.3 trillion yuan (equivalent to approximately $280 billion).
Source: Emirates News Agency