China’s express sector maintained strong growth in the first quarter of this year lifted by booming e-commerce, a Xinhua report said referring to official data from the State Post Bureau (SPB).
Parcels movement shot up over 30 percent
The sector raked in more than 127.1 billion yuan (US$20.2 billion) of revenue in the January - March period, up 29.1% year-on-year, SPB said.
A total of 9.92 billion parcels were shipped during the period, up 30.6% from a year ago, part of which were created by online sales worth 1.5 trillion yuan. Over 3.94 billion parcels were
delivered in March alone, and the SPB expects 4 billion deliveries to be shipped in April.
Boosted by China’s Belt and Road initiative and expanding cross-border e-commerce, cross border express services have been growing at a faster pace than the average growth of the sector for 10 consecutive months. With average annual growth of 42% in the past decade, the country’s express sector has topped the world for four straight years in terms of business volume.
The Xinhua report said that as the sector grows quickly, government oversight has been reinforced. A new regulation on express delivery services, the first of its kind, will go into effect on May 1.
Nol van Fenema