CHINA LOGISTICS SECTOR BLUE BOOK

 China’s logistics sector grew over the past five years  (2017-2022) at a CAGR of 6.6% in real terms by total  value of social logistics goods, fuelled by strong industrial  production and expansion of the consumer market. Social  logistics goods refer to goods being transported to buyers  from suppliers for the first time, including agricultural and  industrial products, imported goods, recycled resources,  and goods produced by organisations and residents.  The logistics sector's growth exceeded the 5.2% rise in real  GDP in the same period, despite Covid-related lockdowns in  2020-2022 that dampened demand, disrupted operations  and delayed expansion. Fitch Ratings expects the sector’s  growth to normalise in 2023 as China ended its “zeroCovid” policy in December 2022, and hover in the midsingle-digit percentages in the medium term as China’s  slowing economic outlook will be partly offset by customers’  rising demand for fast and quality logistics services.









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