China's Logistics Prosperity Index stood at 52.8% in November

2025-04-25 11:42

On December 3rd, data released by the China Federation of Logistics and Purchasing showed that the China Logistics Prosperity Index for November 2024 was 52.8%, up 0.2 percentage points from October.

He Hui, Chief Economist of the China Federation of Logistics and Purchasing, told Securities Daily that the logistics industry generally performed well in November, with most business volume indices in the expansion range. The business volume indices of railway, waterway, and postal express industries have continued to rise. Going forward, logistics operations will maintain a steady momentum.

Specifically, in November, the business volume index was 52.8%, up 0.2 percentage points from October, with balanced growth in the eastern, central, and western regions. The new orders index stood at 52.7%, the same as in October. By industry, the new orders indices for railway transport, road transport, water transport, and air transport saw slight increases.

Hu Han, Deputy Chief Economist of the China Logistics Information Center, told Securities Daily that since the fourth quarter, the demand for industrial upgrading and transformation, as well as the potential consumption demand of residents, has been steadily released. Logistics demand for production, supply, and sales of communication equipment, electrical machinery, furniture and home appliances, agricultural and sideline products, new energy vehicle manufacturing, etc., has increased. At the same time, seasonal demand for energy and raw materials has rebounded significantly, driving the business volume indices of most industries to remain in expansion.

However, pressure from operating costs persists, though corporate micro-profit levels have stayed stable. As business volume continues to rise and the scale of logistics employees grows, the main operating cost index of enterprises rose 0.4 percentage points month-on-month in November, reaching the highest level so far this year.

"Facing cost pressures, enterprises have taken various measures to increase revenue and cut expenses, expand business channels, and increase digital investment, keeping micro-operating profits stable. The average main business profit index for enterprises in October and November reached 46.9%, 0.4 and 0.3 percentage points higher than that in the second and third quarters respectively," Hu Han said. In terms of enterprise size, the main business profit indices of small and micro enterprises have also remained stable, reflecting that the profitability and living conditions of small and micro enterprises have been effectively improved.

Meanwhile, in November, the index of completed fixed-asset investment in the logistics industry remained in the expansion range, exceeding 51%. According to Hu Han, enterprises surveyed reported that infrastructure investment growth was generally stable, while demand for digital and platform-based investment remained strong.

Looking at the market outlook, Hu Han noted that the business activity expectation index reached 57.5% in November, staying above 56% for four consecutive months—a high prosperity range. In November, the business activity expectation indices for railway transport, multimodal transport, and postal express industries reached 57.4%, 54.5%, and 65% respectively, providing a solid foundation for boosting market expectations.

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