China's logistics industry will continue reeling from waning demand and rising oil prices, said the China Federation of Logistics and Purchasing (CFLP).
In the first two months of 2012, the country's social logistics value rose 10.6 percent year on year to 23.5 trillion yuan ($3.73 trillion), but the growth rate was down 3.9 percentage points from a year ago.
A domestic economic slowdown amid the global downturn and tepid logistics activities after the Spring Festival holiday (January 23- 29) were the main reasons for the drop, the CFLP said.
Meanwhile, logistics costs in the first two months increased 12.3 percent to 1.3 trillion yuan ($206.3 billion), of which transportation costs went up 11.8 percent to 700 billion yuan ($111.1 billion). |