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China's logistics sector sees faster expansion in November

Xinhua | December 4, 2023


China's logistics sector registered more rapid expansion in November, industry data showed Monday.

The index tracking the country's logistics market performance stood at 53.3 percent last month, up 0.4 percentage points from October, according to the China Federation of Logistics and Purchasing (CFLP).

A reading above 50 indicates expansion, while a reading below reflects contraction.

CFLP chief economist He Hui said the sector reported improving vitality in November as the new demand maintained an upward trend and businesses held stable expectations for future growth.

In the breakdown, the sub-indexes measuring total business volume and new orders of logistics companies went up to 53.3 percent and 53.4 percent, respectively, and that of business expectations remained well above 55 percent.

Fixed-asset investment in the logistics sector logged stable growth, with its sub-index up by 0.5 percentage points, driven by robust increases in railway and multimodal transport and the postal industry. There was also a rising labor demand in major companies as the employment sub-index gained 1.3 percentage points.

Despite a relatively weak market this year, the headline index in the recent three months posted better performance than that in the first half and the last year's same period, reflecting further improved logistics activity and a more solid positive trend, said Hu Han, an analyst with the China Logistics Information Center.