需求总量持续扩张 前4月全国社会物流总额同比增长5.6%

Core Insights - The logistics demand in China continues to recover, with a total social logistics volume reaching 115.3 trillion yuan, a year-on-year increase of 5.6% from January to April [1] - Despite external shocks in April, the logistics sector demonstrated resilience, maintaining a stable and positive trend [1] Logistics Demand - The logistics demand is effectively supported by production and consumption needs, with industrial goods logistics growing by 5.7% and logistics for units and residential goods increasing by 5.9% year-on-year from January to April [2] - In April, 87.8% of 41 major industry categories experienced growth in logistics demand, with the equipment manufacturing sector showing a notable increase of 9.8% [2] Consumption Logistics - The potential for consumption logistics continues to be released, driven by policies promoting consumption and new business models such as short videos and live streaming [3] - Online retail sales of physical goods grew by 5.8% from January to April, accounting for 24.3% of total retail sales, indicating strong e-commerce activity [2] Price Index and Market Activity - The logistics service prices remained stable and showed improvement, with transportation and warehousing services experiencing increased demand [4] - The coastal bulk freight index averaged 1052.13 points in April, reflecting a 0.1% month-on-month increase, while the road logistics price index rose to 105 points, up 0.23% [4] Business Performance - Key logistics enterprises reported a cumulative business revenue growth of 7.3% from January to April, with supply chain contract orders increasing by 22% year-on-year [4] - Logistics companies are adapting to external uncertainties by expanding integrated and diversified value-added services [4] Future Outlook - The logistics sector is expected to face challenges from a complex external environment, but ongoing policies aimed at expanding domestic demand and promoting consumption may accelerate the transformation of manufacturing towards high-end and intelligent solutions [5]