From January to October, China reported a total logistics volume of 261.8 trillion yuan, a year-on-year increase of 10.5%, according to the logistics operation statistics from January to October released Sunday by the China Federation of Logistics and Purchasing or CFLP.
From January to October, China reported a year-on-year increase of 8% in the logistics growth, standing for an average annual growth rate of 6.5% on a two-year basis, the CFLP said.
The total volume of industrial product logistics increased by 10.9% year-on-year, higher than the level before the outbreak, said the CFLP.
The total logistics of organizations and residents during the ten-month period increased by 13.0% year-on-year, standing for an average annual growth rate of 13.4% on a two-year basis, according to the CFLP.
the flow of imported logistics continued to fall under the impact of the factors such as the base effect, seasonal factors, and repeated overseas epidemics, the CFLP said.
From January to October, the volume of imported materials fell by 1.1% year-on-year and the volume of imported materials fell by 6.6% in the same month, indicating a decline for five consecutive months, said the CFLP.
With the continuous enhancement of the effects of domestic supply policies, China reported a downward momentum in the import volume of production materials with the import volume of bulk commodities such as iron ore and oil significantly weakened, according to the CFLP.
China's logistics demand maintained relatively rapid growth in the first three quarters of 2021, despite the sporadic resurgence of COVID-19 cases, extreme weather conditions and power cuts, the CFLP said at the end of October.
