Despite extreme weather conditions, power cuts and a resurgence of COVID-19 cases, new data reveals China is continuing to significantly grow its logistics sector.
In the first three quarters of this year, China’s total value of goods in the sector was 234.5 trillion yuan (about $36.69 trillion AUD), rising 11.4 percent year on year.
The growth was 9.4 percentage points higher than the same period last year, according to new data from the China Federation of Logistics and Purchasing (CFLP).
The report showed resilience has lead to a recovery momentum since the beginning of the year, with logistics money now higher than the same period before the pandemic.
Data also shows that the total cost of logistics amounted to 12.1 trillion yuan during the period, a year-on-year increase of 15 percent.
The cost was slightly higher than the pre-pandemic level in 2019, showing that upstream and downstream supply chains are still in recovery
The CFLP says it expects the total value of goods distributed through logistics in China to grow at around 10 percent for the whole year.
China also announced this week it intends to embrace a greener, smarter era of logistics.
Xu Yahua, chief engineer with the Ministry of Transport says developing green logistics is of great significance to the sustainable development of the economy and society since the industry is a major player of energy consumption and carbon emission.
“It is necessary to promote transformation and upgrading of the logistics industry with digital innovations, so as to boost high-quality economic development,” he says.
According to data from China’s leading logistics companies, 15 billion yuan was spent on smart equipment in 2020, and more than 370 intelligent distribution hubs have been built across the country.