Core Insights - In July, despite adverse weather conditions, China's logistics demand remained strong, with a logistics industry prosperity index of 50.5%, indicating continued expansion in logistics activities [1][2] Group 1: Logistics Industry Performance - The logistics industry maintained vitality, with e-commerce express and air logistics showing significant growth. The e-commerce express business activity index reached 69.3%, indicating a high prosperity level [1] - Air transportation business activity index was 52.8%, reflecting a month-on-month increase of 0.8 percentage points. Road and rail transportation indices were 54.6% and 51.7%, respectively, both showing a slight month-on-month recovery of 0.1 percentage points [1] Group 2: Market Demand and New Orders - The new orders index for logistics companies rose to 52.5%, indicating a month-on-month increase of 0.1 percentage points. Most sectors, except warehousing and water transportation, maintained new orders in the expansion zone [1] - Rail, road, and air transportation new orders indices increased by 0.3, 0.2, and 0.1 percentage points, respectively, indicating positive trends in these sectors [1] Group 3: Investment and Market Expectations - Fixed asset investment in the logistics sector showed continuous expansion, with a completion index of 54.9% in July, reflecting a month-on-month increase of 0.4 percentage points [2] - The business activity expectation index for July was 55.6%, remaining in a high prosperity zone, with air transportation and postal express indices at 58.9% and 57.2%, respectively [2] - The "old-for-new" national subsidy policy and regional subsidies have expanded consumption scenarios, further driving logistics demand growth [2]

Core Viewpoint - The logistics industry in China shows signs of continued expansion, with the logistics prosperity index for May 2025 at 50.6%, indicating stable demand in both consumer and industrial logistics sectors [1] Group 1: Logistics Prosperity Index - The logistics prosperity index for May 2025 is 50.6%, a decrease of 0.5 percentage points from April [1] - The total business volume index remains in the expansion range at 50.6%, with all three major regions showing expansion [1] - The central region's business volume index is 51.1%, and the western region's is 52.8%, both above the national level [1] Group 2: Sector Performance - The postal and express delivery industry has a business volume index of 69.4%, up 0.8 percentage points month-on-month [2] - Road transportation maintains an expansion trend with a business volume index of 51.3%, while inventory turnover for road transport is at 43.6%, up 0.2 percentage points [2] - The railway transportation index is at 54.2%, indicating stable demand for bulk energy transport [2] Group 3: Microeconomic Indicators - The enterprise fund turnover rate index has remained above 50% for nine consecutive months, averaging 50.7% in the first five months of the year, which is 0.5 percentage points higher than the same period last year [3] - In May, the fund turnover rate index increased by 0.3 percentage points, with small and micro enterprises seeing a 0.4 percentage point rise [3] Group 4: Investment and Market Outlook - Fixed asset investment completion index rose by over 0.5 percentage points in May, with specific increases in road transport, postal delivery, aviation, and water transport sectors [4] - The business activity expectation index has remained above 55% for three consecutive months, indicating a generally optimistic market outlook [4] - Companies are optimistic about future logistics infrastructure investments and key sectors such as intermodal transport and high-end manufacturing logistics services [4]

Core Viewpoint - The logistics industry in China shows a slight decline in the logistics prosperity index for April 2025, but overall demand remains in an expansionary phase, indicating stable business operations across the sector [1][2]. Group 1: Logistics Prosperity Index - The logistics prosperity index for April 2025 is reported at 51.1%, a decrease of 0.4 percentage points from March [1][2]. - The business volume index is also at 51.1%, indicating continued expansion, although there are regional disparities due to factors like slowing demand in the bulk market and a decline in international trade export effects [2]. Group 2: Business Activity and Profitability - The business activity expectation index increased to 56.4%, up by 1.2 percentage points from March, reflecting stable corporate profitability [2]. - The main business profit index saw a slight increase of 0.1 percentage points, with small and micro enterprises maintaining their profit index, while medium-sized enterprises improved slightly and large enterprises experienced a decline [2]. Group 3: Investment and Future Outlook - The fixed asset investment completion index reached a new high of 53.6%, the highest in nearly three years, with an average of 51.6% over the first four months, up by 1.9 percentage points from the previous year [3]. - The implementation of major infrastructure and industrial projects is expected to enhance logistics fixed asset investment, contributing to stabilizing expectations and promoting development [3].