Core Viewpoint - The logistics sector in China has shown steady growth in the first seven months of 2023, with a total social logistics volume exceeding 200 trillion yuan, driven by strong demand in high-end manufacturing and green low-carbon sectors [1][3]. Logistics Performance - The total social logistics volume reached 201.9 trillion yuan, marking a year-on-year increase of 5.2% [3]. - The logistics volume of industrial products grew by 5.7%, with over 85% of 35 industries experiencing year-on-year growth [3]. Demand Segments - The logistics demand for units and residential goods increased by 6.2%, slightly up by 0.1 percentage points from the first half of the year, driven by the "old-for-new" policy boosting demand for home appliances and communication equipment [5][7]. - Import logistics continued to improve, with high-tech products and electromechanical products being the main driving forces, showing over 18% growth in machine tool imports and over 10% growth in integrated circuit imports in July [10]. Market Dynamics - The logistics industry generated a total revenue of 8.2 trillion yuan, reflecting a year-on-year growth of 4.9% [13]. - The growth momentum in the central and western regions has significantly increased, with the western region's business volume index reaching 52.3% and the central region at 50.9%, both above the national average [13]. International Logistics - International logistics emerged as a new growth point, with air cargo transport volume reaching 38.8 million tons, a year-on-year increase of 21.5%, supporting the smooth operation of supply chains [15]. Regional Development - The logistics growth in the central and western regions outpaced the national average, supported by national policies and resource endowments, indicating a more balanced regional development [16]. - E-commerce logistics continues to thrive, with online retail sales of physical goods growing by 6.3%, outpacing the growth of total retail sales of consumer goods by 1.5 percentage points [16].