INSIGHTS
- China’s social logistics reached 347.6 trillion yuan in 2022, up 3.4% YoY, while the income for the logistics sector reached 12.7 trillion yuan, up 4.7% YoY.
- Data revealed that China’s e-commerce logistics market was expanding rapidly, with the index increasing to 109 points in April.
- According to the study, growth will continue, supported by rising domestic demand.
China’s whole social logistics industry grew by 3.4% year over year (YoY) in 2022, reaching a total of 347.6 trillion yuan (about $50 trillion). According to the China Federation of Logistics and Purchasing, the overall income of the logistics sector reached 12.7 trillion yuan in 2022, a rise of 4.7% from the year before.
A strong expansion in the e-commerce logistics business has helped to support the growth of the country’s logistics industry in East Asia. The index measuring e-commerce logistics operations increased by 0.7 points from March to April, according to data from a study done jointly by the China Federation of Logistics and Purchasing and JD.com, increasing to 109 points. According to local media sources, this surpasses the peak value attained in 2022.
Eight of the nine primary sub-indices, which track diverse operations, showed the e-commerce logistics sector’s good performance. Both the business volume and rural business indexes have increased for four months running. According to the poll, the e-commerce logistics sector is expected to continue its rapid recovery, with the index projected to reach 110 points or higher in May.
It is thought that the rebound of domestic demand, which has been further spurred by vacations, is partly to blame for this increase in China’s e-commerce logistics.
