China’s e-commerce logistics index rises for fourth consecutive month

Industry data released on Wednesday showed China’s e-commerce logistics index rose for a fourth straight month in June, indicating steady improvement in domestic demand.

The index tracking e-commerce logistics activity stood at 114.8 points last month, up 0.9 points from May, according to the China Federation of Logistics and Purchasing (CFLP).

After analyzing the data, the total economic activity index amounted to 132.9 points, which means an increase of 3.1 points month on month.

In terms of regions, the indexes of total business volume in China’s regions rose, with the western region recording the largest increase and the eastern region’s growth exceeding the national average. Notably, the index of business volume in rural e-commerce logistics reached 132.1 points, up 2.4 points from May.

“E-commerce has played a significant role in promoting consumption. So the vitality of consumption is gradually increasing, and consumer expectations are also improving,” said Liu Yuhang, director of the China Logistics Information Center.

In terms of demand, during the June mid-year online shopping promotion, live streaming became more diversified and maintained a good growth dynamic.

On the supply side, e-commerce companies have stepped up efforts to meet the delivery needs of retailers and consumers, including by increasing the use of digital technologies and providing tailored services.

Experts predicted that demand for e-commerce logistics could slow in July as the mid-year e-commerce sales festival ended. However, fueled by rapid growth in consumer demand, the e-commerce logistics market is likely to remain very active.

China’s e-commerce logistics index rises for fourth consecutive month

China’s trade services grew 16 percent in the first five months of 2024, driven by a booming tourism industry, the Commerce Ministry said on Thursday.

The total value of imports and exports of services reached 3.02 trillion yuan (about 415.6 billion US dollars).

Exports rose a strong 11 percent to 1.22 trillion yuan, while imports rose an even faster 19.6 percent to 1.8 trillion yuan, resulting in a trade deficit of 580 billion yuan in the period.

Maintaining a high growth rate, imports and exports of tourism services totaled 819.72 billion yuan, an increase of 48.4 percent, becoming the largest sector in service trade.

Trade in knowledge-based services continued to expand, with the total value of imports and exports reaching 1.19 trillion yuan, an increase of 6 percent.

In this sector, exports of knowledge-intensive services reached 675.31 billion yuan, up 2.8 percent. Particularly strong growth was recorded in the areas of intellectual property rights fees and personal cultural and entertainment services, up 17.8 percent and 15.5 percent, respectively.

Imports of knowledge-based services totaled 514.58 billion yuan, up 10.4 percent. Personal cultural and entertainment services and other business services saw the fastest growth, up 49.4 percent and 17.2 percent, respectively.

China’s services trade surges in January and May as tourism booms