China's Logistics Sector Grows 5.5% in Jan-Apr, Instant Retail Surges 29.2%

BEIJING, May 31 -- China's logistics sector maintained steady expansion in the first four months of 2024, with new consumption models and high-tech industries driving growth momentum, data from the China Federation of Logistics and Purchasing showed.

From January to April, the total social logistics value reached 121.7 trillion yuan, representing a 5.5% year-on-year increase. The sector demonstrated balanced operation with expanding market demand and improved supply-demand adaptability, the federation stated.

Industrial logistics remained the backbone of growth, with its total value rising 5.6% year-on-year and contributing 74% to overall logistics expansion. High-end manufacturing logistics stood out with demand growing faster than 10% during the period, reflecting the sector's upgrading trajectory.

Consumer logistics showed progressive upgrading, with logistics value for household and institutional goods increasing 4.8%. Online retail sales grew 5.7%, accounting for 28.2% of total retail sales – a 0.2 percentage point rise from the first quarter. Instant retail emerged as a key growth driver, with transaction volume surging 29.2% amid expanding application scenarios from daily necessities to electronics.

Digital product sales online climbed 8.4%, with smart home systems and intelligent robots seeing sales jumps of 16% and 87.6% respectively. Such growth aligns with the broader trend of digital technology integrating with physical consumption, as noted in industry analyses.

High-tech industries also boosted upstream sectors. The computer and communications equipment manufacturing sector grew 14%, while high-tech product exports rose 27.6%. This pulled up production in traditional upstream industries, with logistics demand for specialized equipment manufacturing increasing 7.4% and integrated circuit output growing 24.7%.

The Ministry of Commerce International Trade and Economic Cooperation Research Institute predicted sustained growth for instant retail, projecting market scale to exceed 2 trillion yuan by 2030. Supported by improved digital infrastructure and optimized delivery networks, the sector is expected to further penetrate county-level markets and enrich consumption scenarios.

Logistics efficiency is also set to improve as policy measures to reduce logistics costs take effect, with ongoing integration of digital technologies into supply chains enhancing overall operational performance.# China's Social Logistics Volume Rises 5.5% in Jan-Apr with Booming Instant Retail

Beijing, May 31 - China's logistics sector maintained stable and positive growth in the first four months of the year, with robust performance across industrial and consumer-related segments, data from the China Federation of Logistics and Purchasing showed.

The total social logistics volume reached 121.7 trillion yuan in the January-April period, climbing 5.5% year on year. This steady expansion signals continuous expansion of logistics market demand and gradual improvement in the adaptability between supply and demand, laying a solid foundation for the country's economic operation.

Industrial logistics served as the backbone of this growth. Its volume rose by 5.6% year on year during the period, contributing 74% to the overall growth of social logistics. High-end manufacturing logistics stood out with remarkable momentum, as logistics demand related to high-tech manufacturing maintained a year-on-year growth rate exceeding 10%. This strong performance has effectively supported the stable operation of the entire logistics industry and reflected the continuous optimization of the industrial structure.

Consumer-focused logistics also showed an upgrading trend. The logistics volume of goods for enterprises and residents increased by 4.8% year on year. Online commodity retail sales grew by 5.7%, accounting for 28.2% of total commodity retail sales, which was 0.2 percentage points higher than that in the first quarter. Instant retail, a new retail format featuring online ordering and quick local delivery, saw its transaction volume surge by 29.2%. Digital products also witnessed brisk online sales, with an 8.4% year-on-year increase. Among them, smart home systems and intelligent robots recorded impressive sales growth of 16% and 87.6% respectively.

Upstream and downstream industrial chains showed coordinated growth driven by high-tech sectors. The computer and communication equipment manufacturing industry expanded by 14% year on year. Exports of high-tech products rose by 27.6%, which drove the expansion and output increase of upstream traditional manufacturing industries such as electronic component manufacturing and basic parts processing. Logistics demand for special equipment manufacturing increased by 7.4% year on year. The output of supporting industrial chain products like integrated circuits jumped by 24.7% year on year, demonstrating the strong driving effect of high-tech industries on the whole industrial chain.

The Ministry of Commerce has indicated its support for the healthy development of new formats including instant retail. As supply structures keep optimizing, the logistics sector is expected to maintain its growth momentum. The continuous growth of high-end manufacturing logistics and the booming instant retail will further boost the integration of digital and real economies, and inject sustained vitality into China's consumption market and industrial upgrading.