China's express delivery services sector shows steady growth

China's express delivery sector recorded rapid growth in transaction volume and revenue in May 2024 amid accelerating consumption growth, as reported by Xinhua News Agency a partner of TV BRICS, citing data from the country's State Postal Administration.

It noted that 14.78 billion parcels were processed last month, up 24 per cent from a year earlier. This was a historic high for the monthly volume of operations, with the rate of growth of the indicator in April this year was 23 per cent.

As of 29 April, Chinese courier companies had handled 50 billion parcels, reaching this figure 32 days faster than 2023.

Total operating profit in the sector totalled nearly 116 billion yuan (US$15,9 billion) in May.

The agency notes that the Chinese economy has continued its recovery trend this year, as evidenced by steady growth in industrial production and a rebound in consumption.