BEIJING, 28th June, 2024 (WAM) -- China's logistics sector remained stable in the Jan-May period, extending an upward recovery trend, China Central Television (CCTV) reported, citing industry data on Friday.
According to the China Federation of Logistics and Purchasing, social logistics increased by 5.9 percent year-on-year to reach 135.3 trillion yuan (approximately US$18.62 trillion).
Industrial product logistics went up 5.7 percent year-on-year, while industrial manufacturing climbed 6.1 percent.
During the period, logistics for imported goods saw a year-on-year increase of 5.9 percent, 0.9 percentage points lower than that in the Jan-April period.
Logistics for imported bulk commodities slowed down, while imports of intermediate goods, such as integrated circuits, automobiles, and chassis, picked up.
As for resident consumption, its logistics rose by 11.4 percent year-on-year in the Jan-May period, 0.4 percentage points higher than that in the Jan-April period.
In May alone, the figure was up 12.6 percent year-on-year, 3.7 percentage points higher than in April.
"The figures in the Jan-May period reflect that the social logistics generally remains stable with an upward trend. Consumption has remained robust since May, registering a marked increase," said Liu Yuhang, Director of the China Logistics Information Centre.