China's e-commerce logistics index fell 0.3 points in February from the previous month, but recovered after the Chinese New Year - Chinese media

On the 6th, the China Logistics Purchasing Federation announced China's e-commerce (EC) logistics index for February. The February China EC logistics index was 108.9, down 0.3 points from the previous month.
The index fell slightly from the previous month due to the Lunar New Year holiday, but the decline was significantly smaller. After the holiday, the e-commerce logistics market recovered steadily, and the total business volume index reached a higher level than the same month last year.
On the supply side, the indexes of each item remained stable overall, while the inventory turnover rate and loading rate index turned upward, both up 0.4 points compared to the same month last year.
In terms of demand, electronic devices and smart products have attracted consumer interest and sustained demand since the new national subsidy policy was announced.
In addition, due to the popularity of Chinese New Year movies and the opening of the Winter Asian Games, the number of searches for culture and sports-related products continues to increase, demonstrating the effect of promoting consumption in the culture and sports industries.
The total e-commerce logistics business volume index for February was 123.3, down 0.1 points from the previous month, but higher than the same month last year. The logistics cost index was 119.4, which is the highest level in 2023.
It fell below 120 for the first time since January. The effects of policies aimed at efficiently lowering the costs of social logistics overall are also continuing to be seen in the e-commerce logistics sector.