China logistics sector posts steady growth in Q1

BEIJING - China's logistics industry expanded steadily in the first quarter of this year, latest data showed.

The total value of social logistics goods in Q1 grew 6.4 percent year on year to 66.5 trillion yuan (￥9.87 trillion), the China Federation of Logistics and Purchasing (CFLP) said on its website.

The growth rate in terms of total value of logistics goods remained flat with the year-round figure of 2018, but down 0.8 percentage points year on year, according to the CFLP.

As China's logistics sector saw steady market expansion in the three-month period, the growth rate of total logistics costs edged down, according to the statement.

In the first quarter, total logistics costs came in at 3.1 trillion yuan, up 8.3 percent year on year. Transportation costs rose 7.6 percent from a year ago, 2.3 percentage points higher, to reach 1.6 trillion yuan, the CFLP data showed.

The economic activities of China's major industries all became more active in March, and the logistics sector accordingly gained new momentum, said He Hui, head of China Logistics Information Center.