China's e-commerce logistics sector reports moderate contraction

China's e-commerce logistics sector reported a moderate contraction in March, according to an industry survey jointly conducted by the China Federation of Logistics and Purchasing and e-commerce giant JD.com.

The survey showed that the index tracking e-commerce logistics activities stood at 104 points in March, edging down 4.9 points from the previous month, the lowest in recent two years.

The domestic resurgence of COVID-19 cases dampened demand and affected the efficiency of logistics transport, transfer and distribution, according to the survey.

The sub-index for business volume dropped 9.7 points from last month to 118.2 points, the lowest in two years.

The sub-index for business costs rose 5.5 points in March, a new high since 2017, the survey showed.