BEIJING: China’s logistics industry maintained its recovery momentum in the first half of 2024 as market demand rose modestly, according to data released by the China Federation of Logistics and Purchasing on Tuesday.
The value of social logistics increased by 5.8 percent year-on-year during this period, reaching 167.4 trillion yuan. Notably, the first and second quarters recorded increases of 5.9 percent and 5.7 percent, respectively, maintaining the rapid growth trend observed in the fourth quarter of the previous year, China Central Television (CCTV) reported.
“The fluctuation range between months was smaller than that of last year, indicating further stabilisation in logistics operations and continuously increasing supply, service, and guarantee capacities in the logistics sector,” said Liu Yuhang, Director of the China Logistics Information Centre.
Logistics for industrial products rose 5.8 percent year on year during this period, with the value in high-tech manufacturing showing an 8.7 percent year-o
n-year increase, 1.2 percentage points higher than that of the first quarter.
Logistics for imports registered a 4.8 percent year-on-year increase, with intermediate imports, such as integrated circuits, sustaining a growth rate of 10 percent driven by demands from related industries.
During this period, logistics for units and residents’ supplies increased by 8.7 percent year on year.
Additionally, logistics for recycling renewable resources showed an 11.1 percent year-on-year increase, 0.2 percentage points higher than the first quarter.
Source: Emirates News Agency
