China’s logistics industry achieved impressive growth in the first seven months of 2012, despite rising costs and slowing export growth, according to the China Federation of Logistics and Purchasing.
The value of the market increased 9.8 percent year-over-year to CNY98.3 trillion ($15.4 trillion). However, the rate of growth was 3.8 percentage points lower than during the first seven months of 2011.
Logistics sector costs increased 11.8 percent year-over-year from January to July because of new road tolls, and rising fuel, labor, land and rental costs.
China’s logistics costs accounted for 18 percent of national GDP in the first half of 2012.
CFLP expects the sector, aided by government policy to boost the economy and trade and reduce the tax burden on logistics companies, to grow by 11 percent this year.
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