7月11日，中国物流与采购联合会发布的《2025年货车司机从业状况调查报告》（下称"报告"）显示， 货车司机普遍反映2024年整体收入较2023年出现下降，同时61.22%的司机预期2025年的收入会减少。 但在有意愿或计划转行的货车司机中，46.32%的货车司机不清楚是否会有和当前收入相当的就业机 会。报告共回收有效问卷5936份。 近些年，货车司机的平均收入在蓝领群体中属于中等偏上水平。报告显示，货车司机月均收入集中在 5000元—8000元。其中，在受雇驾驶货车司机中，66.89%的收入在5000元—10000元之间；个体经营司 机收入则相对分散，48.43%的收入在5000元—10000元之间，19.22%的收入在3000元—5000元。 在这样的背景下，绝大多数货车司机认为目前的运费水平普遍偏低。其中，个体经营货车司机反映更加 强烈，占比高达94.05%。受雇驾驶货车司机虽然不直接参与运费磋商，但仍有77.48%的认为运价偏 低。 展望2025年，货车司机的收入预期也相对谨慎。报告显示，61.22%的司机预期2025年收入会减少。其 中，71.42%的个体经营货车司机预期收入会减少，远高于受雇驾驶货 ...

Core Insights - The expansion of occupational injury protection is addressing the needs of frontline workers, particularly truck drivers, who are essential to the logistics and transportation sector [1][4][6] Group 1: Occupational Injury Protection - Over 80% of truck drivers have participated in various social insurance programs, with a steady increase in participation rates [1] - The Ministry of Transport and other departments are promoting mutual insurance for truck drivers to provide support in case of accidents or serious illnesses [4][6] - The new employment form occupational injury protection pilot program has been expanded to include additional provinces and platforms, indicating a growing recognition of the need for such protections [6][7] Group 2: Social Security Needs - 59.91% of truck drivers believe that digital freight platforms should enhance freight insurance services, highlighting a significant gap in current offerings [1][5] - Legal aid services are the most urgently needed social security service, with over 50% of truck drivers expressing this need, reflecting ongoing disputes in the freight industry [4][5] - The report indicates that approximately 50% of truck drivers have encountered various freight disputes, with issues like unpaid freight being prevalent [5] Group 3: Industry Support and Infrastructure - More than 2,800 "Driver Homes" have been established across the country to provide essential services such as parking and rest areas for truck drivers, with over a quarter of drivers utilizing these facilities [5] - Experts suggest that there is a need to improve the freight insurance mechanism and establish a fair market pricing system to protect truck drivers' rights [5][6] - The logistics sector is crucial to the national economy, with over 38 million truck drivers responsible for more than 70% of the transportation of essential goods [1][4]

《调查报告》揭示了货车司机群体的年龄结构特征。数据显示，与2024年相比，46岁以上货车司机占比 增加，35岁以下从业者比例下滑，报告认为这显示出行业对年轻从业者吸引力不足。不过，从业年限在 11年以上的货车司机占比69.41%，接近七成，显示货车司机职业稳定性较高。 而按照经营属性划分，个体经营依然较为普遍，占比超过六成，不过受雇司机较2024年调查有所增加。 超过三分之一为受雇驾驶的司机，从业稳定性有所增强。 【环球网财经报道 记者谭雅文】一颗荔枝从广东茂名出发，24小时内就能送上珠三角市民的餐桌，也 能在极短时间内抵达长三角以及更远的城市。这种高效的跨区域运输，依托于强大的现代物流体系。而 支撑起这张网络的，是约3800万货车司机，他们承担了全国超七成的货运量。作为公路货运市场的就业 主体，货车司机的从业状况和权益保障一直是市场关注的焦点。 7月11日，中国物流与采购联合会发布了《2025年货车司机从业状况调查报告》（以下简称《调查报 告》）。数据显示，我国货车司机群体正面临劳动强度大、收入波动、货运不稳定等挑战，而数字货运 平台的普及正为行业转型升级提供关键支撑。 "货车司机的劳动强度相对较大，超过三 ...

Core Insights - The report released by the China Logistics and Purchasing Federation highlights the increasing integration of digital economy and road freight industry, with digital freight platforms becoming a crucial channel for truck drivers to find cargo [1] Group 1: Digital Freight Platforms - Nearly 60% of truck drivers use digital freight platforms to find cargo, with the proportion of platform-sourced cargo steadily increasing [1] - Over 70% of drivers believe the main advantage of digital freight platforms is the convenience in finding cargo, which has seen an increase compared to the previous year [1] Group 2: Employment and Insurance - More than 80% of truck drivers have participated in various social insurance programs, indicating a steady rise in the insurance coverage rate [1] - The employment fundamentals for truck drivers remain largely consistent with the previous year, showing relatively high job stability, with nearly 70% of drivers having over 11 years of experience [1] Group 3: Areas for Improvement - Truck drivers express that the most needed improvement in digital freight platforms is in freight insurance protection [1] - Experts suggest that there is a need to further enhance the freight protection mechanism, establish a fair market pricing mechanism, and strengthen the governance of digital freight platforms [1]

Group 1 - The 17th International Transportation Technology and Equipment Exhibition was held in Beijing, showcasing Guangxi's participation in the Greater Mekong Subregion (GMS) international road transport cooperation [1] - Guangxi Hengfa International Freight Forwarding Co., Ltd. presented successful outcomes of direct transport routes from Nanning, China to Hanoi, Vietnam during the exhibition [1] - The Chinese Ministry of Transport officials visited Guangxi's exhibition booth to understand the operations of cross-border transport routes and customs facilitation practices under the GMS framework [1] Group 2 - In the first half of the year, Guangxi issued 145,700 international vehicle transport permits, enhancing the efficiency of foreign vehicle entry through an online declaration system [2] - The number of international road transport companies in Guangxi increased to 91, with international freight companies rising from 14 in 2019 to 77, marking a 450% year-on-year growth [2] - Over 100 agent companies and cooperatives have activated online accounts, significantly improving the entry efficiency of Vietnamese vehicles [2]

Core Points - The pilot program for occupational injury protection for new employment forms will start on July 1, covering 11 platform companies in the ride-hailing, instant delivery, and local freight industries [1][2] - The payment standards for occupational injury protection fees are set at 0.01 yuan per order for the ride-hailing industry, 0.07 yuan and 0.25 yuan per order for the instant delivery industry, and 0.18 yuan per order for the local freight industry [1] - By 2027, the payment standards for platform companies will be subject to adjustments based on regulations [1] Industry Implementation - New employment personnel can report occupational injuries through a mobile app's "one-click reporting" feature, and claims for benefits must be submitted within a specified timeframe [2] - Medical expenses, rehabilitation costs, and other related expenses for occupational injuries will be covered by the work injury insurance fund [2] - Four commercial insurance companies have been selected to assist in the management of occupational injury claims and related processes [2] Current Status - Since the pilot program's launch, 595,000 new employment personnel have been included in the protection scheme, ensuring their legal rights are safeguarded [2]

Core Viewpoint - The Ministry of Human Resources and Social Security has announced the expansion of occupational injury protection trials for new employment forms, which will include more provinces and platform companies, enhancing the safety net for gig economy workers [1] Group 1: Expansion of Trials - Starting from July 1, 2023, the pilot program will expand to 10 additional provinces and include companies such as Didi Chuxing, SF Express, and Manbang [1] - By 2026, the program aims to cover all provinces in China, incorporating platform companies in the ride-hailing, instant delivery, and local freight sectors [1] - In 2027, there are plans to explore the inclusion of platform companies from other industries into the pilot program [1] Group 2: Impact on Workers and Companies - The occupational injury protection program, initiated in July 2022, has effectively provided a safety net for gig workers, including delivery riders and ride-hailing drivers, while also mitigating operational risks for platform companies [1] - As of June 2025, a total of 12.35 million individuals have participated in the insurance scheme across the initial seven pilot provinces [1] Group 3: Future Developments - The Ministry plans to enhance policy standards and improve management services based on the principle of "income determined by expenditure, and balance between income and expenditure" [1] - There will be a focus on improving operational efficiency and service experience, alongside strengthening fund management and monitoring [1]

Core Viewpoint - Four internet freight platforms, including Manbang Group, Huolala, Didi Delivery, and Kuaigou, signed a self-regulatory convention to protect the legal rights of truck drivers, committing to block ultra-low freight sources and ensure timely payment of freight [1][3][4]. Group 1: Self-Regulatory Commitments - The companies will implement measures such as prepayment of freight by shippers, purchasing freight compensation insurance, and ensuring timely payment to help drivers receive their earnings fully and promptly [1][3]. - They will not link driver earnings withdrawal to platform behavior metrics or delay payments to drivers [1][4]. - The platforms will publicly disclose pricing rules, reduce excessive fees and commission rates, and ensure drivers are compensated for actual mileage without deductions [1][4]. Group 2: Monitoring and Accountability - The companies will actively monitor and evaluate transportation costs to establish a mechanism to block freight sources that are significantly below cost [3][4]. - They will restrict accounts of shippers who post false freight information or maliciously delay payments, sharing a blacklist of untrustworthy shippers across platforms [3][4]. - A "sunshine action" will be continuously conducted to ensure transparency in commission practices [3][4]. Group 3: Driver Support and Communication - The platforms will ensure rapid verification and handling of complaints received through the 12328 hotline, aiming to maximize resolution rates and driver satisfaction [4]. - They will establish channels for drivers to express their needs and concerns, including driver forums and community engagements, to foster communication and resolve disputes [4]. - The companies will revise management rules regarding driver behavior and service metrics to prioritize the protection of driver rights [4].

今日早参 2025 年 7 月 08 日 张继强 研究所所长、固收首席研究员 座机：13910012450 邮箱：zhangjiqiang@htsc.com 仇文竹 债券策略研究组长 座机：13910895671 邮箱：qiuwenzhu@htsc.com 今日热点 固定收益：暑期出行热度修复、黑色系价格上升 7 月第一周，地产方面，成交表现有所分化，上季末冲刺对数据与基数皆有 影响，新房略有修复，二手房整体趋势仍有收敛，房价有待企稳，土地溢价 率等指标低位运行。外需方面，吞吐量同比维持韧性，运价整体下降，特别 是前期涨幅较高的美线运价回落明显。生产端来看，工业方面，货运量有所 上行，但焦化、地炼、化工产业链与汽车开工率较前期有所收敛；建筑业方 面，水泥需求边际上略好于供给，黑色供需偏弱且延续主动去库，沥青开工 率当周有一定修复。消费方面，出行热度修复、暑期预定同比增长，汽车消 费热度延续。价格方面，原油受地缘扰动明显，黑色价格在反内卷政策影响 下上行。 风险提示：1)政策推进不及预期。2)海外经济和地缘政治风险的不确定性。 研报发布日期：2025-07-07 研究员 张继强 SAC:S05705181100 ...

7月3日，从国际航协获悉的5月全球航空货运需求定期数据显示，全球航空货运总需求，按照货运 吨公里（CTKs）同比2024年5月增长2.2%（国际需求增长3.0%），航空货运运力（可用货运吨公里， ACTKs）同比2024年5月增长2.0%（国际需求增长2.6%）。 此外，北美航空公司5月航空货运需求同比下降5.8%，在所有地区中增速最慢；运力同比下降 3.2%。欧洲航空公司5月航空货运需求同比增长1.6%；运力同比增长1.5%。中东航空公司5月航空货运 需求同比增长3.6%；运力同比增长4.2%。拉美航空公司5月航空货运需求同比增长3.1%，运力同比增长 3.5%。非洲航空公司5月航空货运需求同比下降2.1%；运力同比增长2.7%。 国家邮政局网声明：此消息系转载，国家邮政局网登载此文出于传递更多信息之目的，并不意味着 赞同其观点或证实其描述。文章内容仅供参考。 从航空货运运营环境来看，2025年4月，全球工业生产同比增长2.6%。同期，航空货运量增长 6.8%，超过全球货运贸易增长（3.8%）。2025年5月航油价格同比下降18.8%，环比下降4.3%。5月全球 制造业收缩，采购经理人指数降至49.1，低于 ...