China's Postal Industry Sees Strong Growth in First Half, Express Delivery Leads the Way

China's Postal Industry Sees Strong Growth in First Half, Express Delivery Leads the WayIn the first half of 2024, China's postal industry demonstrated robust growth momentum. According to the latest data released by the State Post Bureau, the industry's total mail delivery volume reached 89

China's Postal Industry Sees Strong Growth in First Half, Express Delivery Leads the Way

In the first half of 2024, China's postal industry demonstrated robust growth momentum. According to the latest data released by the State Post Bureau, the industry's total mail delivery volume reached 89.42 billion pieces, representing a year-on-year increase of 20.5%. Notably, express delivery volume soared to 80.16 billion pieces, marking a 23.1% year-on-year surge and solidifying its position as the main driver of industry growth.

Express Delivery Sub-Sectors Shine

A breakdown of the data reveals that same-city express delivery volume reached 7.42 billion pieces in the first half, a year-on-year increase of 20.6%, indicating sustained strong demand for intra-city logistics services. Meanwhile, inter-city express delivery volume witnessed a significant surge, accumulating to 71.09 billion pieces, representing a 23.4% year-on-year growth, reflecting the active nature of inter-regional logistics activities. Concurrently, international/Hong Kong, Macao, and Taiwan express delivery volume also achieved steady growth, reaching 1.65 billion pieces, a 21.0% year-on-year increase, showcasing the close ties between China and its global trading partners.

Revenue Growth Remains Solid, Express Delivery Contributes Significantly

From a revenue perspective, the postal industry's total business revenue (excluding the direct operating revenue of the Postal Savings Bank) accumulated to 806.36 billion yuan in the first half, a year-on-year increase of 10.6%. Of this, express delivery revenue totaled 653 billion yuan, representing a 15.1% year-on-year rise and making it the primary contributor to the growth of postal industry revenue.

Multiple Factors Drive Industry's High-Speed Growth

The rapid growth of China's postal industry in the first half is the result of the combined influence of several factors.

• Consumer Upgrading and the Rise of Online Shopping: In recent years, with the improvement in residents' spending power and the widespread adoption of online shopping, the demand for express delivery services has continued to increase.

• Rapid Development of E-commerce Platforms: The flourishing e-commerce platforms have provided vast market space for express delivery services, driving continuous improvements in service levels within the industry.

• Improved Logistics Infrastructure: China has been continuously enhancing its logistics infrastructure in recent years, providing strong support for the development of express delivery services.

• Increasing Policy Support: The government has introduced a series of policy measures to support the development of the postal industry, such as the "Express Delivery into Villages" project and the "Smart Logistics" construction initiative, further promoting industry growth.

Future Development Outlook

Looking ahead, as China's economy continues to grow and consumer upgrading progresses, coupled with the government's unwavering support for the postal industry, China's postal sector is expected to maintain a steady growth trajectory. Over the next few years, express delivery is projected to continue its rapid expansion, while emerging industry models such as green logistics and smart logistics are expected to flourish, creating new growth points for the sector.

Conclusion

The robust growth of China's postal industry in the first half not only reflects the vitality of the Chinese economy but also signifies the immense potential of China's logistics sector. It is believed that in the future, China's postal industry will continue to make greater contributions to the country's economic development.

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