China’s social logistics up 5.9% in Q1 ’24

China’s logistics industry kicked off 2024 on a high note, with social logistics surging 5.9 per cent year-on-year in the first quarter to 88 trillion yuan ($12.4 trillion), Xinhua report on Thursday, citing the China Federation of Logistics and Purchasing.

This growth marks a significant two percentage point increase compared to the same period last year, as per the statement.

The growth spanned various sectors, with logistics for industrial products, resident consumption, and imported goods rising by 6 per cent, 11.6 per cent, and 5.5 per cent, respectively.

Industry revenues also reflected this positive trend, reaching 3.1 trillion yuan in the first quarter, up 4.5 per cent year-on-year. These figures signal a robust recovery for China’s logistics sector.