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China's logistics sector posts steady revenue growth in 2023

11 February 2024 09:00 (UTC+04:00)
China's logistics sector posts steady revenue growth in 2023

China's logistics sector reported steady revenue growth last year, according to the China Federation of Logistics and Purchasing, Azernews reports, citing Xinhua.

The industry generated revenue totaling 13.2 trillion yuan (about 1.86 trillion U.S. dollars) in 2023, up 3.9 percent year on year, the federation said.

China's logistics efficiency continued to improve last year. The ratio of social logistics costs to GDP was 14.4 percent in 2023, down 0.3 percentage points from the previous year.

Solid progress was made in the construction of logistics infrastructure. In 2023, whole-year investment in logistics-related fixed assets such as transportation, warehousing and postal services increased by more than 10 percent year on year, according to the federation.

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