China's social logistics grow 4.8% in H1
The total amount of China's social logistics reached 160.6 trillion yuan ($22.45 trillion) in the first half of the year, up 4.8 percent from a year earlier and 0.3 percentage points higher than the January-May period, according to data released by the China Federation of Logistics & Purchasing on Friday.
Industrial products and agricultural products saw a steady growth, providing strong support for the recovery of the total amount of social logistics.
Specifically, in the first half of the year, the total logistics for the equipment manufacturing industry increased by 6.5 percent year-on-year, the total logistics growth rate for aviation manufacturing, intelligent equipment, new energy and semiconductor equipment exceeded 20 percent. High-tech manufacturing continued to be the engine in driving the growth of logistics demand.
From a consumption perspective, the total amount of goods logistics generated by units and residents increased by 10 percent in the first half of the year. Especially since the second quarter, various consumption scenarios have continued to recover, and related logistics demand has shown rapid growth. Logistics generated by online and offline consumption rebounded simultaneously. In the second quarter, the online retail sales of physical goods in China increased by 10.8 percent year-on-year, 3.5 percentage points faster than that in the first quarter. In the first half of this year, the volume of express delivery exceeded 60 billion pieces. The growth rate of logistics generated by offline business entities such as convenience stores and department stores exceeded 8 percent, and retail and catering consumption logistics continued to recover too.
In addition, the total amount of import logistics in the first half of the year was 8.6 trillion yuan, an increase of 13.8 percent year-on-year. The import flow of agricultural products and bulk commodities continued to grow, and the flow of manufactured products such as mechanical and electrical products fell.
