More rapid expansion seen in China's logistics sector in Nov 2023

The China Federation of Logistics and Purchasing (CFLP) said the index tracking the country's logistics market performance stood at 53.3 per cent last month—up by 0.4 percentage points from the October figure.

A reading above 50 indicates expansion, while a reading below denotes contraction.

The sector reported improving vitality in November as new demand maintained an upward trend and businesses held stable expectations for future growth.

The sub-indices measuring total business volume and new orders of logistics companies went up to 53.3 per cent and 53.4 per cent respectively, and that of business expectations remained well above 55 per cent.

Driven by robust rises in railway and multimodal transport and the postal industry, the index for fixed-asset investment in the logistics sector went up by 0.5 percentage points, indicating stable growth.

Major companies also witnessed rising labour demand as the employment sub-index gained 1.3 percentage points, a state-controlled media outlet reported.

ALCHEMPro News Desk (DS)