CHINA BRIEF | Logistics industry bounces back with deliveries up 41% in May

In the past May, 7.38 billion express items were delivered to customers in China, up 41% year-over-year (YoY)—the highest annual growth since February 2018, according to State Post Bureau’s stats released on Friday, signaling that the country’s logistics industry was recovering at a brisk pace.

According to the latest logistics report, revenues of couriersreached RMB 77.1 billion (USD 10.90 billion) in May, representing a YoY increase of 25%. Although the sector was hampered by the coronavirus pandemic in the first quarter, 26 billion parcels were delivered in the first five months of 2020, up 18.4% YoY.

In May, China’s major delivery operators, including STO Express, YTO Express, Best Express, and Yunda all announced service price increases, citing “highway toll fees” as the reason. After backlash from the public, they all removed the announcements, Xinhuanet reported.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.