According to the latest statistics released by China Federation of Logistics and Purchasing, China's total logistics expense grew 11.5% YoY to CNY 7.2 trillion in the first ten months of this year.
The growth rate for the ten month period was 1.9 percentage points higher than that in the same period of last year and 0.1 percentage points higher than in the first nine months of this year.
The logistics cost consists of transportation, storage and management cost. In the first ten months, the transportation costs rose 10.8% YoY to CNY 3.7 trillion, while the storage and management cost grew 12.1%, and 13.1% YoY to CNY 2.6 trillion and CNY 0.9 trillion, respectively.
In the first nine months, major logistics enterprises saw its core business revenue rise 20.6% YoY, operating cost rise 22% but profit margin drop to 4.7%.
The value of goods transported by logistics industry grew 9.6% YoY to CNY 146.4 trillion in the first ten months.
