China's total value of logistics up 5 pct to 47.27 trln US dollars in first 11 months

The total value of China's social logistics in the first 11 months reached 331.2 trillion yuan (about 47.27 trillion U.S. dollars), representing a 5-percent year-on-year increase at comparable prices, data released by the China Federation of Logistics and Purchasing showed on Tuesday.

In November alone, the growth rate stood at 4.5 percent.

The data shows overall stable logistics operations in the country from January to November.

In terms of production, the logistics for industrial goods went up 5.2 percent year on year from January to November, with a 4.7-percent increase in November.

Logistics growth in the industrial sector remained stable, with nearly 70 percent of major industrial categories maintaining year-on-year growth.

From the consumption perspective, the logistics for goods for organizational and individual consumers grew by 5.8 percent year on year from January to November.

Emerging consumption logistics flourished, with rapid growth in instant retail, which integrates online ordering with rapid local delivery, and livestream e-commerce. The cumulative online retail sales of physical goods rose by 5.7 percent year on year during the same period.

"The growth in logistics demand is particularly evident in consumer goods centered around online shopping and the upgrading of electronic products. This reflects how our increasingly improved and diversified consumer environment is creating new demands for logistics," said Liu Yuhang, director of China Logistics Information Center.

Green logistics has emerged as a new growth driver for the industry.

From January to November, the total logistics for recyclable resources shot up 14.7 percent year on year, maintaining rapid growth throughout the year.