SOURCE / ECONOMY
E-commerce logistics index hits near 7-year high in 2024
Published: Jan 07, 2025 11:59 PM
Staff members sort packages at a logistic center of YTO Express in Jurong City, east China's Jiangsu Province, Nov. 11, 2024. Manufacturers, e-commerce platforms and logistics companies across the country are busy coping with customer's demand during China's annual Double 11 shopping festival.   (Photo: Xinhua)

Staff members sort packages at a logistic center of YTO Express in Jurong City, east China's Jiangsu Province, Nov. 11, 2024. Manufacturers, e-commerce platforms and logistics companies across the country are busy coping with customer's demand during China's annual "Double 11" shopping festival. (Photo: Xinhua)


China's e-commerce logistics index averaged 113.7 points in 2024, up 3.6 points compared with the previous year, hitting a near seven-year high, industry data showed on Tuesday, as the country's online consumption registered robust expansion.

In 2024, sub-indexes for contract fulfillment rates, personnel, satisfaction rates and actual load rates all hit the highest levels since 2018, which fully showed that China's e-commerce logistics market continued to expand, with notable growth in supply capability, service levels and market activity, according to a survey jointly released by the China Logistics and Purchasing Federation (CLPF) and e-commerce giant JD.com.

The increased e-commerce logistics index reflects the rapid growth of the e-commerce sector in China, as the number of online shoppers exceeded 900 million, Lu Zhenwang, founder of Shanghai Wanqing Commerce Consulting, told the Global Times on Tuesday.

"Along with the rapid development of new models such as livestreaming and short videos, which have become prevailing trends in China's e-commerce market, consumers gain better access to diversified and customized products and services," Lu said, adding that the trend further accelerates the formation of online shopping habits among consumers.

According to data released by the National Bureau of Statistics, online retail sales nationwide reached 14.03 trillion yuan ($1.91 trillion) in the first 11 months of the year, up 7.4 percent year-on-year. Online retail sales of physical goods reached 11.8 trillion yuan over the period, accounting for 26.7 percent of the total retail sales of consumer goods.

As of November 17, China's courier sector reached a milestone, with the express delivery volume in 2024 surpassing the 150-billion-parcel mark for the first time, according to the State Post Bureau.

In 2025, the e-commerce logistics index is expected to maintain steady growth, thanks to policies to boost consumption and scenarios of logistics demand in instant e-commerce, cross-border e-commerce, and other e-commerce continue to emerge, according to the CLPF.

China's online retail market is expected to continue expanding, which will inject fresh momentum into the high-quality development of China's economy, while improving living standards, Lu said.

The Central Economic Work Conference (CEWC) held in Beijing in December called for efforts to vigorously boost consumption, improve investment efficiency and expand domestic demand on all fronts, which is listed as a key task for the country's economic work in 2025.

Among various efforts to boost consumption, the Ministry of Commerce on Tuesday started a month-long online shopping event for festive goods ahead of the upcoming Spring Festival, which falls on January 29 this year. The event aims to meet people's consumption needs during the festive season, promote traditional Chinese culture and boost e-commerce sales.

Consumption is expected to play a more important role in bolstering China's economic growth in 2025, Cao Heping, an economist at Peking University, told the Global Times on Tuesday.

Cao said that policymakers are expected to step up measures to spark consumer spending this year. For example, the proceeds of ultra-long special treasury bonds will continue to be channeled to fund equipment upgrades and consumer goods trade-ins, while local governments will roll out new support policies to stimulate consumption, he said.