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]

Core Viewpoint - The China Logistics and Purchasing Federation reported that the e-commerce logistics index for July reached a new high of 112.0 points, reflecting a 0.2 point increase from the previous month, indicating a positive trend in the e-commerce logistics sector [1] Group 1: E-commerce Logistics Index - The total e-commerce logistics business volume index reached 130.9 points in July, marking a 0.1 point increase from the previous month, setting a new high for the year [1] - The total business volume index in the western and northeastern regions increased by 0.5 points and 0.4 points respectively, with the western region exceeding the national average [1] Group 2: Rural E-commerce Logistics - The rural e-commerce logistics business volume index accelerated to 131.5 points in July, showing a significant increase of 1.1 points from the previous month [1] - All regions in the country experienced an increase in the rural business volume index, with the central region showing the largest rise of 1.7 points [1]

中国物流与采购联合会8月12日发布数据显示，7月份中国电商物流指数达到112.0点。这一数值较上月提升0.2点，再次刷新年内最高纪录。在促消费政策持 续发力的背景下，电商物流市场展现出强劲的发展势头。指数的持续攀升反映出电商物流行业的活跃程度不断提高，市场需求保持旺盛态势。 农村电商物流业务量加速增长 农村电商消费的火热程度在各地都有所体现。现代物流体系的不断完善为农村电商发展提供了有力支撑，物流末端服务网络日益丰富。信息化和科技化手段 的深度应用，显著增强了农村电商服务设施的供给能力。这些因素共同作用，带动了农村电商板块销售的显著增长，为整个电商物流行业注入了新的活力。 物流企业运营效率持续提升 随着业务量的稳步回升，电商物流企业的运营效率得到明显改善。7月份电商物流实载率指数出现回升，这直接反映了物流资源配置的优化程度。实载率的 提高意味着物流车辆和仓储设施的利用效率得到提升，有效降低了单位物流成本。 人员指数的连续回升也体现了行业发展的积极态势。农村电商物流业务量的加速上升，促使物流企业积极扩大农村地区快递员的招聘规模。7月份电商物流 人员指数环比回升0.9点，涨幅较上月明显扩大。这种人员配置的调整不仅 ...

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]

Core Insights - The e-commerce logistics index in China rose to 111.6 points in May, indicating a steady increase in both supply and demand [1][2] - The total business volume index for e-commerce logistics reached 130.2 points, marking a 0.8 point increase from the previous month [1] - The rural e-commerce logistics business volume index also increased to 129.6 points, reflecting a 0.6 point rise [1] Supply and Demand Dynamics - Both supply and demand sides showed steady growth, with the total business volume index and rural business volume index hitting new highs for the year [2] - The "old-for-new" consumption policy boosted demand for home appliances and communication equipment [2] - Companies are enhancing their supply capabilities in anticipation of mid-year promotional activities, as indicated by a 0.2 point increase in the personnel index [1] Logistics Efficiency - The logistics timeliness index rose to 101.2 points, surpassing 100 for the first time this year, indicating improved service efficiency among e-commerce logistics companies [1] - The inventory turnover rate index increased by 0.2 points, suggesting faster inventory turnover as demand rises [1] - The market feedback remains positive, with a 0.4 point increase in the satisfaction index [1] Future Outlook - The easing of monetary policy is expected to provide significant support for the implementation of consumption-promoting policies, enhancing the vitality of the e-commerce market [2] - With major e-commerce platforms preparing for mid-year shopping promotions, the logistics index in June is anticipated to rise further [2]

E-commerce Logistics Index - In May, China's e-commerce logistics index rose to 111.6 points, an increase of 1.1 points from the previous month [3] - The total business volume index for e-commerce logistics reached a year-to-date high, with a year-on-year growth rate exceeding 30% for the first time this year [3] - All regions in China saw an increase in total business volume index, with the western region experiencing the largest month-on-month rebound [3] - The rural e-commerce logistics business volume index reached 129.6 points, up 0.6 points from the previous month, also a year-to-date high [3] - The "old-for-new" consumption policy significantly boosted demand for home appliances and communication equipment [3] - The logistics timeliness index surpassed 100 points for the first time this year, rising to 101.2 points, indicating improved service efficiency among e-commerce logistics companies [3] Road Logistics Price Index - In May, China's road logistics price index was reported at 105 points, reflecting a month-on-month increase of 0.06% and a year-on-year increase of 2.02% [7] - The truck index, primarily driven by bulk commodities and regional transportation, reached 105.6 points, up 0.07% from the previous month and 2.34% year-on-year [7] - The inland regions, which are mainly driven by domestic demand, showed a strong upward trend in the index [7] - Overall, the economic performance in May was positive, with a slight improvement in road transport demand due to a relatively stable domestic market and international trade conditions [9] - Experts suggest that as the economic recovery solidifies, the road freight market is expected to remain active [9]

Core Insights - The Chinese e-commerce logistics market is experiencing rapid growth, becoming a key driver for industrial upgrades and consumption growth in the digital economy era, with a projected market size of 1.4 trillion yuan in 2024, reflecting a year-on-year growth of 13.8% [1][14] E-commerce Logistics Overview - E-commerce logistics refers to the supply chain system that provides comprehensive services such as warehousing, sorting, transportation, delivery, and returns for e-commerce transactions, aiming to efficiently connect sellers and consumers [1] E-commerce Logistics Classification - E-commerce logistics can be classified based on service objects (B2C, B2B, C2C), operational models (self-operated, third-party, crowdsourced, cross-border), and delivery timeliness (instant delivery, same-day/next-day delivery, standard delivery) [2][3] Development History of E-commerce Logistics in China - The industry has evolved from traditional delivery methods to intelligent services, with significant growth from 2008 to 2015 due to the explosion of e-commerce platforms, followed by a consolidation phase from 2016 to 2020, and entering a high-quality development phase driven by innovation since 2021 [4] Relevant Policies for E-commerce Logistics - Various policies have been introduced to support the e-commerce logistics sector, focusing on digital empowerment, network optimization, and green transformation, which are essential for the industry's high-quality development [6][7] E-commerce Logistics Industry Chain - The industry has formed a complete value chain, including upstream logistics infrastructure, intelligent devices, and technology service providers, with core operational links involving comprehensive logistics service providers and specialized service providers [8] Current Status of E-commerce Logistics Industry - The online retail market in China has shown steady growth, with online retail sales projected to reach 15.52 trillion yuan by 2024, reflecting a compound annual growth rate of 7.19% [10] Competitive Landscape of E-commerce Logistics Industry - The industry features a tiered competitive structure, with leading companies like JD Logistics and SF Express dominating the high-end market, while the second tier includes the "Tongda" system (ZTO, Yunda, YTO) focusing on cost advantages [16][17] Key Enterprises - SF Express reported a revenue of 284.4 billion yuan in 2024, with a year-on-year growth of 10.1%, while JD Logistics achieved a revenue of 182.8 billion yuan, reflecting a 10% increase [18][20] Future Trends in E-commerce Logistics - The industry is expected to focus on service quality enhancement, accelerated digital transformation, green low-carbon initiatives, and deeper global supply chain integration, driven by technological innovation and evolving consumer demands [22][25][26]

Core Viewpoint - The China E-commerce Logistics Index for May shows a continued recovery, with both supply and demand sides steadily increasing, indicating positive growth in the e-commerce logistics sector [1] Group 1: Index Performance - The E-commerce Logistics Index for May is reported at 111.6 points, an increase of 1.1 points from the previous month, marking a significant recovery [1] - The total business volume index for e-commerce logistics reached a new high for the year, with a year-on-year growth rate exceeding 30% for the first time this year [1] Group 2: Regional Analysis - All regions in the country experienced an increase in total business volume index, with the western region showing the largest month-on-month recovery [1] Group 3: Rural E-commerce - The rural e-commerce logistics business volume index stands at 129.6 points, reflecting a month-on-month increase of 0.6 points, also achieving a new high for the year [1]