Key sub-indices within the sector, including business volume, new orders, and equipment utility rates, all experienced notable growth compared to 2022.
China’s logistics industry saw significant increase in 2023, with the performance index reaching 51.8 per cent, a 3.2-point increase from 2022.
Growth was observed in business volume, new orders, and equipment utility rates.
Analysts expect this trend to continue into 2024, supported by an increase in the December 2023 index to 53.5 per cent.
Industry analysts predict that this upward trajectory is likely to continue into 2024. This forecast is supported by December 2023 data, which shows a month-on-month increase of 0.2 percentage points in the logistics performance index, reaching 53.5 per cent. The expansion was evident across most sub-indices, as per Chinese media reports.
Additionally, the index tracking road logistics prices recorded a 0.9 per cent year-on-year increase in December 2023. This rise is attributed to overall improvements in road transport demand and supply.
A notable highlight of the year was the annual ‘Double 11’ online shopping event. During this period, from November 1 to 16, 2023, approximately 7.51 billion packages were dispatched nationwide, marking a 30.9 per cent increase over the same period in the previous year.
Fibre2Fashion News Desk (DP)