BEIJING — China's postal and express delivery industry saw rapid expansion in the past eight years amid the country's push to upgrade its logistics system and spur consumption, postal authorities said on Aug 24.

Business revenue of the sector surged from 198 billion yuan (about $30.55 billion) in 2012 to over 1.1 trillion yuan in 2020, registering an annual average increase of 24 percent, said Ma Junsheng, head of the State Post Bureau, at a press conference.

The number of parcels handled increased 14-fold from 2012 to 83.5 billion in 2020, Ma said, estimating the figure to reach 100 billion this year.

The service network has further expanded. Data showed that postal outlets covered all villages and towns, while express delivery outlets have reached 98 percent of villages and towns in the country.

The postal and express delivery industry has become an indispensable part of business activities and people's daily lives. It contributes to the economic circulation and ensures supplies in times of emergencies, Ma added.