China's express delivery sector sees strong growth
Xinhua, September 17, 2016 Adjust font size:
China's express delivery sector has grown steadily in the first eight months despite a slowing economy, according to the State Post Bureau.
Revenue for Chinese express delivery businesses hit 234.36 billion yuan (about 35.5 billion U.S. dollars) in the first eight months of 2016, up 43 percent year on year, said the bureau in an online statement.
A total of 18.27 billion deliveries were made during the same period, up 55 percent year on year, according to the bureau.
Despite a slowing economy, express delivery services have grown steadily as online shopping gains popularity in China.
China aims to nearly quadruple revenues of its express delivery market by 2020 in a move to boost consumption and services, as the economy slows with softening trade and investment.
The express delivery industry will have a target annual revenue of 800 billion yuan by 2020, according to a policy document released by the State Council last October.
The amount is nearly four times the 2014 revenue, which reached 204 billion yuan. Endi