Logistics growth slows in first half
China's logistics industry saw tempered growth in the first half this year amid the slowest economic growth experienced by the country since 2009, a logistics association said Saturday.
The China Federation of Logistics and Purchasing (CFLP) said in a statement posted on its website that the total value of the sector for the first six months grew by 10 percent year-on-year to 83.6 trillion yuan ($13.25 trillion).
The growth rate was down 3.7 percentage points from the same period last year and down 0.9 percentage points from the first quarter this year, the federation said.
Total expenses rose 11.9 percent year-on-year to 4.1 trillion yuan, down 6.4 percentage points from a year earlier, the CFLP said.
"Growth in logistics expenses dropped to some extent, but remained relatively high," the statement said.
The expenses represented 18 percent of China's GDP during the same period, much higher than the ratio in most developed economies.
The federation expects the sector's value to grow by 11 percent for the whole year, as the number of favorable factors will increase in the second half due to macroeconomic regulatory policies.
China's economy expanded 7.6 percent year-on-year in the second quarter of 2012, slowing from 8.1 percent in the first quarter, according to data from the National Bureau of Statistics.
The growth rate marked the sixth consecutive quarter of decline and the slowest rate since the first quarter of 2009.
The growth rate was down 3.7 percentage points from the same period last year and down 0.9 percentage points from the first quarter this year, the federation said.
Total expenses rose 11.9 percent year-on-year to 4.1 trillion yuan, down 6.4 percentage points from a year earlier, the CFLP said.
"Growth in logistics expenses dropped to some extent, but remained relatively high," the statement said.
The expenses represented 18 percent of China's GDP during the same period, much higher than the ratio in most developed economies.
The federation expects the sector's value to grow by 11 percent for the whole year, as the number of favorable factors will increase in the second half due to macroeconomic regulatory policies.
China's economy expanded 7.6 percent year-on-year in the second quarter of 2012, slowing from 8.1 percent in the first quarter, according to data from the National Bureau of Statistics.
The growth rate marked the sixth consecutive quarter of decline and the slowest rate since the first quarter of 2009.
