China’s logistics sector saw improved delivery demand and more investment amid the stabilization of the country’s economic growth, the latest data show.
Logistics companies transported goods worth 163.4 trillion yuan (25.96 billion U.S. dollars) between January and November, a rise of 9.7 percent year on year, according to the National Development and Reform Commission.
The rate was 0.1 percentage point higher than the growth recorded in the first 10 months, the data show.
Logistics companies earned more revenue as market demand picked up. Their revenue grew 6.8 percent year on year from January to October, compared to 3.4-percent growth recorded in the first nine months.
More investment has flowed into the sector, as the sector’s fixed asset investment jumped 22.2 percent year on year to 3.5 trillion yuan from January to November. The rate improved from 21.8 percent recorded in the first 10 months.
Meanwhile, the sector’s value-added output increased 9.5 percent year on year to 3.2 trillion yuan in the first 11 months, slightly higher than the 9.4 percent logged between January and October.
However, logistics companies have seen operational costs rise, with total logistics costs climbing 11.9 percent year on year to 8 trillion yuan from January to November, compared to 11.5 percent in the first 10 months.
To cut costs and improve efficiency, the government on Wednesday announced a range of measures such as cheaper electricity and water for the production and circulation of agricultural produce.