多维发力推动我国物流运行稳中有进——解读2025年上半年我国物流运行数据

Core Insights - The logistics sector in China showed steady growth in the first half of 2025, with a total social logistics volume of 171.3 trillion yuan, reflecting a year-on-year increase of 5.6% [1][2] - The growth rate of logistics outpaced GDP growth by 0.3 percentage points, indicating strong support from logistics demand for economic development [1][2] - The industrial logistics sector remained stable, with a logistics volume increase of 5.8%, contributing 85% to the overall growth of social logistics [1][2] Logistics Performance - The logistics demand from units and residents increased by 6.1%, with online retail of physical goods growing by 6% [1][2] - Emerging industries showed robust growth, with logistics demand in the equipment manufacturing sector rising by 10.9% and high-tech manufacturing by 9.7% [2] - International logistics demand diversified, with a 3% decline in import logistics volume, which narrowed compared to the first quarter, and a positive growth of 2.1% in June [2] Revenue and Indices - The total revenue of the logistics industry reached 6.9 trillion yuan, marking a 5% year-on-year increase [3] - The average logistics industry prosperity index was 50.5%, indicating a recovery from the first quarter, with key indicators in the expansion range [3] - Rail freight saw a steady increase, with 1.98 billion tons of goods sent, and air cargo volume grew by 14.6%, particularly in international shipments [3][4] Policy and Market Drivers - The policy environment improved, with 12 billion yuan in infrastructure loans issued for logistics, a 67% increase year-on-year [5] - The integration of logistics with the real economy deepened, driven by industrial and consumption upgrades, leading to rapid growth in logistics demand in high-tech and equipment manufacturing sectors [5] - The outlook for the second half of the year remains positive, with expectations for continued good performance in logistics related to green development and consumer spending [6]