China's logistics demand continues to improve

Source: Xinhua| 2020-10-08 11:20:11|Editor: huaxia

BEIJING, Oct. 8 (Xinhua) -- Logistics demand in China continued to improve as economic activities normalized amid effective COVID-19 control, official data showed.

The total value of social logistics in the Jan.-Aug. period rose 1.2 percent year on year to 174.6 trillion yuan (about 25.7 trillion U.S. dollars), according to the China Federation of Logistics and Purchasing (CFLP).

The growth accelerated from a 0.5-percent gain seen in the first seven months.

During the Jan.-Aug. period, total logistics revenues stood at 6.5 trillion yuan, down 1.1 percent year on year.

The logistics performance index for August came in at 52.2 percent, staying in the expansion zone for the third consecutive month, according to the CFLP.

The composite index tracks business volumes, new orders, employment, inventory turnover and equipment utility rates in China's logistics sector. A reading above 50 percent indicates expansion, while a reading below that reflects contraction. Enditem