China's logistics sector sustains recovery in H1
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E-mail Xinhua, July 30, 2023
China's logistics industry sustained the recovery momentum in the first half of the year as market demand rose modestly, industry data showed.
During the period, social logistics rose 4.8 percent year on year to 160.6 trillion yuan (about 22.51 trillion U.S. dollars) in value, according to the data released by the China Federation of Logistics and Purchasing.
Logistics for industrial products went up 3.8 percent year on year during the period, 0.8 percentage points higher than that of the first quarter, the data showed.
Total revenue of the logistics industry rose 5.3 percent year on year to 6.3 trillion yuan during the period, according to the data.
Despite the challenges ahead, the federation remains confident about the sector's growth prospects for the entire year, citing its huge potential and strong resilience.
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