business

China’s logistics sector reports steady operation in 2020

BEIJING, Feb. 27 (Xinhua) — China’s logistics sector reported steady operation last year, an industry report showed.

Social logistics rose 3.5 percent year on year in 2020 to 300.1 trillion yuan (about 46.37 trillion U.S. dollars), according to the China Federation of Logistics and Purchasing (CFLP).

The total cost of social logistics was 14.9 trillion yuan, up 2 percent year on year.

The ratio of social logistics cost to GDP was 14.7 percent, basically in line with the figure registered in the previous year.

The total revenue of the logistics industry rose 2.2 percent year on year to 10.5 trillion yuan in 2020. 

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