China’s logistics sector reports steady growth in first 9 months

BEIJING, Oct. 29 (Xinhua) — China’s logistics sector maintained steady growth in the first three quarters of the year, according to the China Federation of Logistics and Purchasing on Tuesday.
During the period, social logistics rose 5.6 percent year on year to 258.2 trillion yuan (about 36.22 trillion U.S. dollars), said the federation.
Specifically, logistics for industrial products increased by 5.6 percent year on year, while that for renewable resources climbed by 10.1 percent, said the federation.
During the period, social logistics costs rose 2.3 percent year on year to 13.4 trillion yuan, according to the federation.
The ratio of social logistics costs to GDP was 14.1 percent during the period, down 0.2 percentage points from the same period last year.
In the first three quarters, the total revenue of the logistics industry stood at 10 trillion yuan, an increase of 3.7 percent year on year. ■