Internet of Things in China: The total social logistics in China in January-February was 5.86 trillion yuan, a year-on-year increase of 6.7% when calculated at comparable prices.

On March 27, the China Federation of Logistics and Purchasing issued a statement that in January and February, the total social logistics in China was 58.6 trillion yuan, with a year-on-year increase of 6.7% calculated at comparable prices. The growth rate was 1.6 and 1.4 percentage points higher than the previous year and previous period respectively, showing a more obvious recovery trend. The significant increase in logistics demand in the first two months was due to the continuous efforts of macroeconomic policies, early resumption of work and production in the industrial chain, and marginal improvement in external demand. From a structural perspective, domestic production and consumption as well as international import logistics demand showed simultaneous improvement, with logistics demand in various sectors accelerating compared to the same period last year. This indicates a good start for social logistics demand, continuous optimization of structure, enhanced coordination between sectors, emergence of new productive forces, and a solid foundation for the improvement of logistics operations. Industrial logistics growth accelerated, with high-end manufacturing driving core growth. In January and February, industrial logistics total increased by 6.3% year-on-year, with a contribution rate of over 80% to the total social logistics. International logistics growth also showed a significant increase, driven by continuous recovery of domestic and international demand as well as the improvement in macroeconomic policies. Policy-driven green transformation and rapid expansion of recycled resource logistics were evident in the significant increase in recycled resource logistics in January-February, which entered a high-speed growth range due to policies like the "dual carbon" goal and old-for-new initiatives. Additionally, urban and rural logistical demand steadily increased, with new consumption trends driving growth. Overall, the logistics market in China showed steady growth and improvement in efficiency, with a focus on sectoral transformation and upgrading. The logistics service prices stabilized, and micro-business operations showed signs of improvement in January and February. Overall, social logistics supply and demand were well-matched, indicating stable and orderly operations. Moving forward, efforts should be made to consolidate the advantages of the large-scale market, ensure stable operation of domestic and international logistics supply chains, and reduce logistics costs to support economic circulation and smooth operation of the supply chain. This article is sourced from the China Federation of Logistics and Purchasing, edited by GMTEight: Chen Wenfang.