China Logistics Industry Prosperity Index Shows Growth in March 2024
According to recent news from Shanghai Securities News and China Securities Network, the China Federation of Logistics and Purchasing released the China Logistics Industry Prosperity Index for March 2024. The index showed a significant increase of 4.4 percentage points from the previous month, reaching 51.5%. This growth indicates a positive trend in the logistics industry in China.
The report highlighted various sub-indexes that saw improvement, including the total business volume index, new order index, inventory turnover index, and equipment utilization index. Operational indicators such as the capital turnover rate index and main business profit index also showed positive improvements. This data suggests that both upstream and downstream activities in the supply chain have become more active, leading to an acceleration in logistics demand and improved corporate operating efficiency.
In March, the total business volume index saw a notable rebound, with a 4.4 percentage point increase from the previous month. Industries such as residential consumption, commercial logistics, road transportation, postal express, and railway transportation experienced growth in business volume. The report also noted an increase in the average daily loading of railway freight in March compared to previous months.
Additionally, operational efficiency saw improvements in micro-operations, leading to better corporate profitability. The transportation industry demonstrated better operational efficiency compared to the storage sector. Large and medium-sized enterprises, as well as small and micro-enterprises, saw improvements in their main business profit index in March.
Investment in fixed assets remained stable, with a boost in employment opportunities and positive business prospects. Infrastructure construction projects accelerated after the Spring Festival, leading to steady growth in investment in the logistics field. The employment index rose by 2.7 percentage points, indicating a positive trend in hiring within the transportation and postal express industries.
Looking ahead, the report predicts that the logistics industry will continue to show steady improvement throughout the year. The country plans to introduce measures to expand domestic demand, stabilize investment, and boost foreign trade, which will further stimulate market demand in various sectors. Specialized logistics productivity in manufacturing, automobile manufacturing, and green and low-carbon fields are expected to form steadily, providing a solid foundation for continued improvement in logistics operations.
Overall, the China Logistics Industry Prosperity Index for March 2024 reflects a positive outlook for the logistics industry in China, with growth in demand, operational efficiency, and profitability.