Core Insights - The total social logistics volume in China reached 263.2 trillion yuan in the first three quarters, showing a year-on-year growth of 5.4% at comparable prices [1] - The logistics sector is experiencing stable growth with an optimized demand structure and a diversified development in sub-sectors, contributing to an overall positive industry outlook [1][2] - The total logistics cost for the first three quarters was 14.2 trillion yuan, reflecting a year-on-year increase of 4.3%, indicating steady progress in reducing logistics costs across the society [1] Summary by Categories Social Logistics Volume - The total social logistics volume for the first three quarters was 263.2 trillion yuan, with a year-on-year growth of 5.4% [1] - Industrial logistics volume grew by 5.6%, contributing 81% to the overall growth of social logistics [1] Logistics Costs - The total logistics costs amounted to 14.2 trillion yuan, marking a 4.3% increase year-on-year [1] - The efforts to reduce logistics costs have shown consistent results, with a focus on optimizing the logistics transport structure [1] Demand Structure - The demand structure is continuously optimizing, with logistics demand from units and residents increasing by 6.6% year-on-year [1] - The logistics sector is expected to see a stable recovery in demand in the fourth quarter, particularly in e-commerce and maritime logistics due to seasonal factors [2]