交通运输产业行业研究：京东物流发布重磅战略，中国过境免签政策全面放宽优化

Investment Rating - The report does not explicitly state an investment rating for the transportation industry. Core Insights - The transportation index decreased by 2.2% during the week of December 16-20, 2024, underperforming the Shanghai Composite Index by 2.1% [2][3]. - The logistics sector saw a significant increase in express delivery volume, with a year-on-year growth of 33.6% [24][94]. - The domestic air travel market is recovering, with daily flights reaching 101% of 2019 levels [24][61]. Summary by Sections 1. Transportation Sector Overview - The transportation sector's performance was mixed, with the road segment showing the highest increase of 1.2%, while the bus segment experienced the largest decline of 6.7% [2][3]. - The domestic container freight index (PDCI) showed a slight decrease of 2.0% week-on-week but a year-on-year increase of 17.8% [21]. 2. Shipping and Ports - The export container freight index (CCFI) was reported at 1491.29 points, reflecting a week-on-week increase of 0.4% and a year-on-year increase of 73.9% [55]. - The shipping sector is experiencing a recovery, with the CCFI for the East America route at 1208.78 points, down 3.5% week-on-week but up 44.3% year-on-year [55]. 3. Logistics and Express Delivery - The express delivery sector reported a total volume of approximately 41.43 billion pieces, with a week-on-week growth of 9.75% and a year-on-year growth of 33.6% [24][94]. - Major express companies like SF Express and Yunda reported year-on-year growth rates of 8.7% and 17.6%, respectively, in their business volume [24][94]. 4. Aviation and Airports - The average daily flight volume reached 14,120 flights, which is 101% of the 2019 level, indicating a strong recovery in air travel [24][61]. - The international passenger volume through various ports increased significantly, with a year-on-year growth of 86.2% [24][61]. 5. Road and Rail Transport - The national road passenger volume reached 9.85 billion people, showing a year-on-year increase of 2.58% [89]. - The railway passenger volume was reported at 3.04 billion people, with a year-on-year increase of 8.76% [69]. 6. Oil and Fuel Prices - The Brent crude oil futures settled at $72.94 per barrel, reflecting a decrease of 2.08% week-on-week and a year-on-year decrease of 7.94% [65]. - The domestic aviation kerosene price was reported at 5,880 RMB per ton, with a week-on-week increase of 3% and a year-on-year decrease of 16.7% [65].