拆解万亿快递市场版图：广东强势领跑，沪穗深稳坐前三城

Core Insights - SF Express ranked 393rd in the Fortune Global 500 for 2025 with a revenue of $39.5294 billion, marking its fourth consecutive year on the list [1] - The national postal industry reported a total revenue of 873.09 billion yuan in the first half of 2025, reflecting a year-on-year growth of 8.3%, with a total delivery volume of 104.51 billion items, up 16.9% [1] - The express delivery sector in China has maintained its position as the world's largest for 11 consecutive years, with projected revenue growth to 1.7 trillion yuan in 2024 [1] Industry Performance - In the first half of 2025, Guangdong province led the express delivery market with a revenue of 149.35 billion yuan, more than double that of the second-ranked Zhejiang [1][4] - Shanghai, Guangzhou, and Shenzhen ranked as the top three cities for express delivery revenue, with Shanghai achieving 129.35 billion yuan, significantly outpacing Guangzhou [1][8] - The overall express delivery volume in China for the first half of 2025 reached 956.43 million items, with a year-on-year growth of 19.3% [7] Regional Insights - The express delivery business in Guangdong saw a volume of 2.3429 billion items, a growth of 17.7%, while Zhejiang's volume reached 1.6144 billion items, growing by 8.4% [5][7] - Hebei and Henan provinces also showed strong growth, with Hebei's express delivery volume increasing by 38.2% [5][7] - The top three provinces (Guangdong, Zhejiang, and Jiangsu) accounted for nearly 50% of the national express delivery volume in the first half of 2025 [4] Logistics Cost Trends - The ratio of national social logistics costs to GDP fell to 14% in the first half of 2025, indicating a decrease from previous quarters [2][12] - The government aims to reduce this ratio to 13.5% by 2027, with various provinces implementing plans to optimize logistics costs [13][14] - The focus is shifting towards high-quality development in the logistics sector, moving away from price competition to efficiency and service quality [14]