China's logistics sector experiences surge in Q1 2024

Source：CHINA SPORTING GOODS FEDERATIONRelease time：2024-04-09Clicks：

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China's logistics industry has witnessed a notable upswing in the first quarter (Q1) of the year, powered by a surge in industrial production that has significantly increased transport requirements, according to the China Federation of Logistics and Purchasing.

In March, the logistics market index reached 51.5 per cent, a rise of 4.4 per cent points from the previous month. This uptick is further evidenced by the warehousing index, which escalated to 52.6 per cent in March, registering an 8.1 per cent point increase from February.

A detailed analysis of the sector's performance shows that the total business volume index climbed 4.4 per cent points to 51.5 per cent in March. Concurrently, the new orders index experienced a modest rise of 1.2 per cent points, reaching 53.4 per cent. Moreover, the business expectations index maintained its robust outlook, standing at 55.3 per cent for two consecutive months, indicating sustained optimism within the industry, according to Chinese media reports.

The federation's report also highlighted the sector's impressive start to the year, with social logistics witnessing a 5.9 per cent year-on-year increase in the January-February period, equating to a value of approximately 55.4 trillion yuan (around $7.81 trillion).