China's total social logistics volume in January-November up 5.8% year-on-year: Chinese report

According to data recently released by the China Logistics Purchasing Federation, in the first 11 months of the year, many indicators of the logistics industry continued to rise, supported by a series of stable economic and development promotion policies.
The logistics industry is operating in a good economic condition. The total social logistics volume nationwide from January to November was 320.2 trillion yen (approximately 6,852 trillion yen), up 5.8% year-on-year. The growth rate was 0.1 percentage point higher than the January-September period.
The total social logistics volume nationwide in November increased by 5.8% year-on-year, with the growth rate up 0.1 percentage point from the previous month. Logistics demand in the high-tech manufacturing industry increased by 7.8% year-on-year in November.
Among these, the photoelectron device manufacturing and integrated circuit manufacturing industries saw growth rates exceeding 20%. Recyclable resource logistics showed relatively high growth. The total value of recycled resource logistics in the January-November period was 1.1 times higher than the same period last year.
In terms of consumer goods logistics, the total amount of goods transported by employees and residents from January to November increased by 6.5% year on year. Of this, the online retail value of physical goods increased by 6.8%, and the social consumer goods market grew by 1.2% year on year.
It accounted for 26.7% of the total retail sales of goods. The recovery of private consumption logistics shows no signs of slowing, and online retail demand continues to grow. With the growing demand from various quarters, the logistics industry is operating well.
According to the data, total revenue of the logistics industry from January to November increased 4.0% year-on-year to 12.5 trillion yen (approximately 267.5 trillion yen). The rate of increase was 0.2 percentage points higher than in the January-October period.
This marked the third consecutive month of increase.