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China’s logistics sector reports steady growth

Updated: Dec 31,2018 2:57 PM     Xinhua

BEIJING — The total value of goods carried by the logistics sector surged to 257.9 trillion yuan (about $37.5 trillion) in the first 11 months, the National Development and Reform Commission (NDRC) said in a statement.

The total amount was up 6.7 percent year-on-year. The growth rate edged up 0.1 percentage points when compared with that for the first 10 months.

Logistics expenditure was 11.9 trillion yuan in the first 11 months, up 8.6 percent year-on-year.

The Logistics Performance Index (LPI) stood at 55.9 percent in November, up 1.4 percentage points from October, the NDRC said. A reading above 50 percent indicates expansion from the previous month, while a reading below indicates contraction.

The sector’s stable performance came amid steady growth of China’s economy, which expanded 6.7 percent in the first three quarters of the year, above the government’s annual growth target of around 6.5 percent.