Industry news

The total social logistics amount in 2021 is expected to be over 300 trillion yuan

2022-05-31

According to the China Federation of Logistics and Purchasing, China's economy maintained overall recovery in 2021, with the average purchasing managers' index (PMI) for the manufacturing industry reaching 50.5%, higher than the annual average for 2019 and 2020. The total social logistics volume for the year is expected to remain above 300 trillion yuan. The logistics market continues to expand steadily, with the total revenue of the logistics industry expected to exceed 11 trillion yuan, and market revenue expected to maintain a growth rate of over 15%. Preliminary estimates indicate that the ratio of total social logistics costs to GDP will be maintained at around 14.7% for the full year 2021, and the business environment in the industry will continue to improve, with logistics operations achieving steady progress.

 

At the 19th China Logistics Entrepreneurs Conference, He Liming, Chairman of the China Federation of Logistics and Purchasing, introduced that in 2021, with the approval of the State Council, China Logistics Group was officially established, marking the beginning of the restructuring and integration of state-owned logistics companies. The industry has witnessed frequent mergers and acquisitions, and the activation of social stock resources to weave a logistics service network that is connected internally and externally. The surge of the digital economy has accelerated the commercial application of new-generation technologies and equipment, such as delivery robots, digitized warehouses, and digital supply chains.

 

He Liming said that the "14th Five-Year Plan" for the development of modern logistics will soon be released, and China's logistics industry is entering a new strategic opportunity period. As the logistics demand for investment, consumption, and foreign trade continues to recover, China will accelerate the construction of a modern logistics system, establish a safe and efficient logistics network that is connected internally and externally, achieve steady improvement in the quality and reasonable growth in quantity of modern logistics, cultivate and strengthen modern logistics enterprises with international competitiveness, and solidify the logistics infrastructure conditions for high-quality development.