BUSINESS China's logistics demand improves in first five months

BUSINESS

China's logistics demand improves in first five months

Xinhua

13:52, July 05, 2020

BEIJING, July 5 (Xinhua) -- Logistics demand in China improved in the first five months of 2020 on the back of supporting policies to coordinate economic growth and the control of the COVID-19 epidemic, official data showed.

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File photo: CGTN

The total value of social logistics in the January-May period fell 2.2 percent year on year to 96.9 trillion yuan (about 13.7 trillion U.S. dollars), according to the China Federation of Logistics and Purchasing.

The drop narrowed from the 4.2-percent decline seen in the first four months.

In the first five months, total logistics costs came in at 5.1 trillion yuan, down 6.9 percent year on year.

The rising logistics demand came as China's economic activities continued to normalize as key economic indicators, including industrial output, retail sales and investment, showed signs of rebounds in the period. Enditem

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