China's logistics business expands in first four months
Source: Xinhua | 2022-05-26
China's logistics sector reported steady growth in the first four months of 2022, showed an industry report Wednesday.
Social logistics rose 3.6 percent year on year in the first four months to 106.2 trillion yuan (about 15.95 trillion U.S. dollars), said the China Federation of Logistics and Purchasing in an industry report.
On a monthly basis, the growth rate of social logistics shrank 3 percent in April from the same period last year.
In April, the resurgence of COVID-19 cases affected the demand for logistics. The logistics demand for agricultural products and energy increased, while the logistics demand related to industrial production, imports and consumption was muffled.
The logistics of the industrial product sector shrank in April, with the total logistics volume falling 2.9 percent year on year, the first decline since March 2020.
In the first four months, the online retail sales of goods climbed 5.2 percent year on year while the business volume of the courier sector expanded 4.2 percent year on year.