China's logistics market size set to be world's No 1 for the ninth year

China's logistic market size is projected to lead the world for the ninth straight year, the China Central Television reported on Tuesday.

In 2024, social logistics in China will exceed 360 trillion yuan ($49.32 trillion), CCTV quoted the China Federation of Logistics and Purchasing.

So far, the number of A-level logistics companies in sound operation and with advanced information tech has surpassed 10,000 in the country.

The ratio of social logistics costs to GDP this year is projected at around 14.1 percent, down 0.3 percentage points year-on-year, reflecting that the efficiency of the logistics sector has improved.

The CCTV reported, as multiple policies take effect in 2025, demand for logistics in China will be further boosted. The logistic market will grow mildly.