China's e-commerce logistics index reached 113.9 points in May, reflecting a 0.7-point increase from the previous month, as per the China Federation of Logistics and Purchasing. The sub-index for total business volume in the sector rose by 2.1 points, reaching 129.8 points. The business volume in rural areas also showed growth, climbing 1.8 points to 129.7 points.The strong performance of China's e-commerce logistics was significantly supported by the May Day holiday, which saw a surge in consumption, including higher sales of sportswear and outdoor gear.
China's e-commerce logistics index rose to 113.9 points in May, up 0.7 points from April, driven by increased business volume and rural growth.
The May Day holiday boosted consumption, particularly in sportswear and outdoor gear.
In Q1 2024, total online retail sales hit 3.3 trillion yuan ($464.8 billion), a 12.4 per cent increase from Q1 2023.
In the first quarter (Q1) of 2024, China's total online retail sales amounted to 3.3 trillion yuan ($464.8 billion), marking a 12.4 per cent increase compared to the same period in 2023, according to Chinese media reports.
ALCHEMPro News Desk (DP)
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