The latest figures from China Federation of Logistics and Purchasing (CFLP) showed that China's social logistics costs, the cost of all logistics activities in the country, increased 18.7 per cent to CNY5.8 trillion (US$912 billion) in the first three quarters, up 0.2 per cent faster than the growth in the first half of year and 3.8 per cent higher year on year, Xinhua reports.
The ratio of the cost to the country's GDP was 18 per cent, up 0.1 per cent year on year, meaning that logistics costs are still high in China, said the report.
Transport costs increased 15.4 per cent to CNY3 trillion because of surging fuel prices and labour costs. Fuel costs soared four fold since January.
Storage costs increased 23.8 per cent to CNY2.1 trillion, one per cent higher than the increase in the first half, and 10.5 per cent more year on year.
Management costs climbed 19 per cent to CNY710.7 billion, up 19 per cent year on year. The growth is 0.8 per cent slower than that in the early half of year, but 1.9 per cent higher year on year.
The ratio of the cost to the country's GDP was 18 per cent, up 0.1 per cent year on year, meaning that logistics costs are still high in China, said the report.
Transport costs increased 15.4 per cent to CNY3 trillion because of surging fuel prices and labour costs. Fuel costs soared four fold since January.
Storage costs increased 23.8 per cent to CNY2.1 trillion, one per cent higher than the increase in the first half, and 10.5 per cent more year on year.
Management costs climbed 19 per cent to CNY710.7 billion, up 19 per cent year on year. The growth is 0.8 per cent slower than that in the early half of year, but 1.9 per cent higher year on year.