China's Total Value of Goods Shipped Expected to Grow 6.5% This Year, Industry Body Says
Xu Wei
/SOURCE : Yicai
China's Total Value of Goods Shipped Expected to Grow 6.5% This Year, Industry Body Says

(Yicai Global) Feb. 14 -- The total value of goods shipped from suppliers to buyers in China will grow 6.5 percent this year to USD42.6 trillion (CNY269.2 trillion) on strong demand for consumer products in the country, says a new report from a logistics industry body.

The ratio between the total value of such goods and the gross domestic product was 14.6% last year, down by 0.3 percentage point annually, and this trend is expected to continue this year, China Federation of Logistics and Purchasing said in its 2017 Logistics Statistics Analysis report.

China's total value of logistics goods rose to USD40 trillion in 2017, up 6.7% on the year before, while demand for consumer products is the driving force of growth in the sector.

The country's logistics sector continued to make progress last year amid stability, and exhibited promising momentum, CFLP said, adding that margins in the sector can scale-up progressively this year, driven by deepening supply-side structural reform, the removal of excess capacity and cost reductions.

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Keywords: CFLP , LOGISTICS