China's logistics sector posts steady growth in first 11 months

BEIJING, Dec. 28 (Xinhua) -- China's logistics industry continued to see steady growth in the first 11 months of this year, official data showed.

The total value of social logistics in the January-November period grew 5.8 percent year on year to 271.7 trillion yuan (38.9 trillion U.S. dollars), said the China Federation of Logistics and Purchasing (CFLP).

The growth rate was down 0.7 percentage points from the same period last year.

Earlier CFLP data showed that the Logistics Performance Index stood at 58.9 percent in November, increasing 4.7 percentage points from a month ago, the highest level so far this year.

A reading above 50 percent indicates expansion, while one below 50 percent reflects contraction.