business

China’s logistics demand continues to improve in Jan.-Sept.

BEIJING, Oct. 31 (Xinhua) — Logistics demand in China continued to improve as economic activities normalized amid the effective control of the COVID-19 epidemic, official data showed.

The total value of social logistics in the first three quarters rose 2 percent year on year to 202.5 trillion yuan (about 30.1 trillion U.S. dollars), according to the China Federation of Logistics and Purchasing (CFLP).

The growth accelerated from a 1.2-percent gain seen in the first eight months.

The logistics performance index for September came in at 56.1 percent, up from 52.2 percent recorded last month, according to the CFLP.

The composite index tracks business volumes, new orders, employment, inventory turnover and equipment utility rates in China’s logistics sector. A reading above 50 percent indicates expansion, while a reading below that reflects contraction.

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