Statistics of China Federation of Logistics and Purchasing (CFLP) and China Logistics Information Centre show that China's social logistics volume totalled US$13.4 trillion in the first three quarters, up 16.8 per cent year on year in comparable price, and the growth is 9.9 per cent higher than in the same period of 2009, reports Xinhua.

Total social logistics costs were $705.4 billion, up 14.9 per cent; and the ratio of total social logistics costs in GDP was 17.9 per cent down 0.1 per cent; and the purchase price of raw materials, fuel, and power rose 9.8 per cent year on year

Due to increased transport demand and rise of freight charge, the transportation cost stood at $373.3 billion, up 15.5 per cent year on year; and its rate in total social logistics costs was 52.9 per cent. Freight volume grew 14.5 per cent and freight turnover grew 14.6 per cent in the three quarters.

The added value of logistics industry completed was $278.3 billion, up 14.6 per cent year on year in comparable price, and the growth is four per cent higher than GDP growth and 5.1 per cent higher than the growth of the added value of the tertiary industry in the same period; and its rate in GDP was 7.1 per cent, equal to the level in the same period of 2009, and its rate in the added value of the tertiary industry was 16.7 per cent, 0.3 per cent higher year on year.

Fixed assets investment fulfilled in logistics and related industries reached $200.3 billion, up 23.2 per cent year on year, and the growth is for the second time lower than growth of fixed assets investment in urban area in the same period since August, falling 32.3 per cent year on year. The growth of fixed assets investment in logistics and related industries obviously lagged behind the growth of fixed assets investment in urban area.

Source: Shipping Gazette