China's logistics sector sees $1.86 trn revenue in 2023, 3.9% rise YoY

Source:China Sport ShowRelease time:16-Feb-2024Clicks:

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The logistics sector in China witnessed steady revenue growth last year, according to the China Federation of Logistics and Purchasing.

Revenue worth 13.2 trillion yuan ($1.86 trillion) was generated by the industry in 2023—a rise of 3.9 per cent year on year (YoY).

Efficiency of the country’s logistics sector continued to improve last year as well. The ratio of social logistics costs to the gross domestic product was 14.4 per cent in 2023—down 0.3 percentage points YoY.

Concrete progress was achieved in the construction of logistics infrastructure. Investment in logistics-related fixed assets like transportation, warehousing and postal services increased by over 10 per cent YoY last year, a state-controlled media outlet reported.