CHINA China's logistics sector posts steady growth in first 11 months

CHINA

China's logistics sector posts steady growth in first 11 months

Xinhua

13:12, December 28, 2019

BEIJING, Dec. 28 (Xinhua) -- China's logistics industry continued to see steady growth in the first 11 months of this year, official data showed.

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A logistics workshop in Guizhou Province, China. (Photo: VCG)

The total value of social logistics in the January-November period grew 5.8 percent year on year to 271.7 trillion yuan (38.9 trillion U.S. dollars), said the China Federation of Logistics and Purchasing (CFLP).

The growth rate was down 0.7 percentage points from the same period last year.

Earlier CFLP data showed that the Logistics Performance Index stood at 58.9 percent in November, increasing 4.7 percentage points from a month ago, the highest level so far this year.

A reading above 50 percent indicates expansion, while one below 50 percent reflects contraction.

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