Total logistics cost grew 18.7% year-on-year to RMB 5 trillion in the first eight months of this year. Transportation expenses rose 15.8% to RMB 2.6 trillion, according to latest statistics released by China Federation of Logistics and Purchasing (CFLP), China Knowledge reports.
According to a report released by CFLP, the steady growth of China's economy and supporting policies unveiled by the State Council created a favorable environment to develop logistics. Operation revenue of key logistics enterprises grew 28.1% year-on-year in the first 7 months of this year, and it experiences a steady growth. Fixed asset investment growth rate of logistics industry has slowed down.
Fixed asset investment from January to August reached RMB 1.9 bln, representing a 11.7% year-on-year increase, while the growth rate decreased 3.8 percentage points comparing to that of the first 7 months due to narrowing investment in railways, sea transportation and decreased growth rate of land transportation.
From January to August, main business profit grew 11.7% year-on-year, but still 16.6 percentage points lower than national industrial enterprises above designated size. Increasing costs and low charges caused logistics enterprises low profit.
According to a report released by CFLP, the steady growth of China's economy and supporting policies unveiled by the State Council created a favorable environment to develop logistics. Operation revenue of key logistics enterprises grew 28.1% year-on-year in the first 7 months of this year, and it experiences a steady growth. Fixed asset investment growth rate of logistics industry has slowed down.
Fixed asset investment from January to August reached RMB 1.9 bln, representing a 11.7% year-on-year increase, while the growth rate decreased 3.8 percentage points comparing to that of the first 7 months due to narrowing investment in railways, sea transportation and decreased growth rate of land transportation.
From January to August, main business profit grew 11.7% year-on-year, but still 16.6 percentage points lower than national industrial enterprises above designated size. Increasing costs and low charges caused logistics enterprises low profit.