China's logistics sector exceeds pre-pandemic levels
In the first half of 2021, the Chinese logistics sector continued to recover and achieved better performance compared to the pre-pandemic level in 2019, according to a report published by the China Federation of Logistics and Procurement.
According to the data, during the specified period, the value of China's social logistics reached 150.9 trillion yuan (approximately 23.24 trillion US dollars), an increase of 15.7% year on year.
Average growth rate for the first six months of 2020 and 2021 was 7.3%, according to the report.
In the first six months of this year, the country's logistics sector totaled 5.7 trillion yuan, up 22.8% on an annualized basis, according to the report.
According to the forecast, the total cost of social logistics will increase by 9-10% over the course of the year.