China’s logistics sector saw growth in business scale in August, supported by policies promoting domestic consumption, stabilizing investment, and safeguarding livelihoods, while improved synergy across supply and industrial chains boosted the sector, state broadcaster CCTV reported Tuesday, citing industry data.
The logistics activity index stood at 50.9 in August, up 0.4 points from the previous month, with both the total business volume index and new order index continuing to expand, according to the China Federation of Logistics and Purchasing (CFLP).
The total business volume index has remained in expansion territory for six consecutive months this year, while the new order index has stayed in growth for seven straight months. In August, new orders in railway transportation, air transport, and portal express sectors remained above 55, while multimodal and waterway transportation saw month-on-month increases in new orders, the CFLP said.
“Logistics acts as the ‘meridian’ of the real economy. The ongoing improvement in supply and demand conditions within logistics indicates that the foundation for the overall recovery and growth of the real economy has been further strengthened,” He Hui, chief economist of the CFLP, told the Global Times on Tuesday.
From an investment perspective, the fixed-asset investment completion index remained in the expansion zone in August, showing continued momentum in investment growth.
(Inputs from WAM)
