China's e-commerce logistics index up in May

BEIJING - China's e-commerce logistics index, an indicator of logistics operations in the e-commerce sector, came in at 113.9 points in May, up 0.7 points from the month before, industry data showed on Wednesday.

The sub-index tracking the sector's total business volume increased 2.1 points month-on-month to 129.8 points, according to the China Federation of Logistics and Purchasing.

The figure tracking the business volume in rural areas also rose from the previous month, climbing 1.8 points to 129.7 points.

The robust performance of China's e-commerce logistics was bolstered by a May Day holiday that saw thriving tourism consumption, including boosted sales of sportswear, outdoor gear and takeaway food.

Mid-year sales promotions on China's major e-commerce platforms also drove the demand for logistics services, according to the federation.

It expects the country's e-commerce logistics sector to maintain consistent growth as a trade-in policy for durable consumer goods continues to take effect.

The end of 2023 marked China's 11th consecutive year as the world's largest online retail market. Its total online retail sales hit 3.3 trillion yuan ($464.8 billion) in the first quarter of 2024, a 12.4 percent increase from the same period in 2023.