Revenue for China's courier sector reached more than 308 billion yuan (US$45 billion) in the first 10 months, up 44.5% year on year, Xinhua reported China's State Post Bureau as saying.
An astonishing 24.1 billion deliveries were made during the period, up 54.2% year-on-year, the bureau said, adding that 20.65 billion parcels were delivered in 2015, up 48% from 2014.
Courier services covered 70% of towns and villages by the end of 2015. The country has plans to further extend this network and improve technology, services and international connections by 2020, according to the SPB.
China has surpassed the U.S.
The target annual revenue of the courier sector will be 800 billion yuan by 2020, according to a policy document released by the State Council in October last year.
Meanwhile, in their annual cross-border commerce report, which investigated the online domestic and cross-border shopping habits of more than 28,000 consumers in 32 countries, PayPal and Ipsos revealed that China is now the most popular cross-border online shopping destination with 21% of survey respondents, followed by the U.S. at 17% and the U.K. at 13%. The U.S. market, however, retains its stance as the largest market in terms of online spend.
Portugal, Ireland and Peru (87%, 81%, and 77% respectively) surfaced as countries where cross-border online shopping was most prevalent, while Japan at 4%, had the lowest incidence of cross-border online shoppers.
Nol van Fenema