Core Insights - The e-commerce logistics index in China rose to 112.0 points in July, marking a 0.2 point increase from the previous month, while the total business volume index reached 130.9 points, up by 0.1 points, both hitting new highs for the year [1] - The rural e-commerce logistics business volume index accelerated to 131.5 points in July, reflecting a 1.1 point increase from the previous month, with all regions showing improvement, particularly the central region with a 1.7 point rise [1] - The demand for e-commerce logistics is significantly driven by the booming rural e-commerce sector, supported by postal and express companies enhancing last-mile delivery capabilities [1] E-commerce Logistics Performance - The personnel index for e-commerce logistics increased by 0.9 points, indicating a rise in recruitment of rural couriers, while the load factor index also improved by 0.7 points, leading to a decrease in the cost index by 0.4 points, remaining below 120 points for six consecutive months [2] - The inventory turnover rate index in the e-commerce logistics sector rebounded in July, as companies reduced stock following the end of promotional activities, although the logistics timeliness index fell by 0.5 points due to extreme weather conditions [2] - The e-commerce logistics market did not experience a typical slowdown in July, with the index reflecting a robust performance despite the seasonal lull, attributed to rising business volumes and decreasing logistics costs [2] Consumer Trends and Economic Impact - Rural e-commerce consumption has surged, contributing significantly to the rise in the e-commerce logistics index, alongside ongoing consumption promotion policies with 138 billion yuan in national subsidies enhancing consumer confidence [3] - The "summer economy" has driven online sales, with notable demand for medical care, sun protection products, and off-season clothing, as well as increased sales in educational materials during the summer [3] - The upcoming back-to-school season is expected to further boost demand in the e-commerce logistics market, although supply-side indices may continue to be affected by weather conditions [3]

8月12日，中国物流与采购联合会和京东集团联合发布数据显示，2025年7月份，中国电商物流指数为 112.0点，比6月份回升0.2点，再次刷新年内新高。 (责任编辑：王晨曦) 电商物流领域库存周转率指数止跌回升，物流时效、履约率与满意度等指数环比回落。7月份，随着电 商促销活动陆续结束，企业备货减少，库存周转率指数环比回升。但受多地暴雨等汛期极端天气影响， 物流时效指数环比回落0.5点，受此影响，履约率和满意度指数分别回落0.4点和0.3点。 中国物流信息中心分析师表示，与往年明显不同，今年7月份电商物流市场并未因年中电商大促等活动 结束而暂时沉寂。在国家各项消费补贴的刺激下，7月份电商物流需求不降反升，广大农村地区电商消 费火热，成为带动电商物流指数上升的重要因素。 上述分析师认为，7月份促消费政策持续，1380亿元"国补"资金陆续下达。据国家发展改革委宣布， 7350亿元中央预算内投资已基本下达完毕，较2024年增加350亿元，创历史新高，并形成"投资—就业— 消费"的良性循环。在政策的促进下，居民消费热情和信心不断增强，"夏日经济"成为7月份线上销售的 主要驱动力，受高温天气影响，医用保健、防晒用品、反 ...

Core Insights - The China E-commerce Logistics Index for July 2025 reached 112.0 points, marking a 0.2 point increase from the previous month and setting a new high for the year [1] - The total business volume index for e-commerce logistics hit a new high of 130.9 points, with a 0.1 point increase from the previous month [1] - Rural e-commerce logistics business volume index accelerated to 131.5 points, reflecting a 1.1 point increase, with all regions showing growth [1][3] Business Volume and Performance - The total business volume index for e-commerce logistics increased, with the western and northeastern regions showing rises of 0.5 and 0.4 points respectively, surpassing the national average [1] - The rural business volume index saw a significant rise, particularly in the central region, which increased by 1.7 points [1] - The personnel index and load factor index also rose, driven by increased rural logistics demand, with the personnel index up by 0.9 points and the load factor index up by 0.7 points [1] Inventory and Logistics Efficiency - The inventory turnover rate index stopped declining and began to rise, attributed to reduced stock levels following the end of e-commerce promotional activities [2] - However, logistics efficiency indicators such as logistics timeliness, fulfillment rate, and satisfaction index saw declines due to extreme weather conditions, with logistics timeliness dropping by 0.5 points [2][3] Market Dynamics and Consumer Behavior - Unlike previous years, the e-commerce logistics market did not experience a slowdown after mid-year promotions, with demand increasing due to government consumption subsidies [3] - The "summer economy" emerged as a key driver for online sales, with notable performance in categories like medical care, sun protection products, and off-season clothing [3] - The government has allocated significant funds for consumption stimulation, with 138 billion yuan in "national subsidies" and a historical high of 735 billion yuan in central budget investments [3] Future Outlook - The e-commerce logistics market is expected to maintain growth due to the upcoming peak consumption season and back-to-school shopping for electronic products [3] - However, supply-side indices may continue to be affected by weather conditions, necessitating ongoing observation [3]