CNBF Daily Brief 23.2.2023

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China will strengthen measures ensuring the smooth flow of logistics to stabilize industrial and supply chains, according to the Ministry of Transport. The ministry will work to enhance China's emergency response transport capacity and ensure efficient and unimpeded logistics for key materials, especially materials related to energy, food, medicines, and other daily necessities.

Efforts will be made to optimize terminal distribution networks in both urban and rural areas to facilitate economic circulation further. China will also accelerate its cultivation of modern logistics enterprises with international competitiveness, and build an international logistics supply chain that is open, safe, and reliable and has global coverage, he added.

China's transport and logistics operations have fully returned to normal, with the commercial freight volume in 2022 increasing by 8.2% over 2019.

China has made notable achievements in improving its transport infrastructure network and transport services over the past five years, and will advance the construction of a comprehensive transport system in the future, according to the Ministry of Transport. During the 2018-2022 period, China built the world's largest high-speed railway and expressway networks, as well as a world-class port cluster.

Fixed-asset investment in the country's transport system exceeded 17 trillion yuan (about 2.46 trillion U.S. dollars) during the period. By the end of 2022, the total length of the country's comprehensive transport network exceeded 6 million km.

Last year, the leading indicators of passenger and freight turnover, and the postal and express delivery volume in China were among the top in the world. The country's commercial passenger volume hit 5.59 billion, its commercial freight volume stood at 50.6 billion tonnes, its port throughput amounted to 15.68 billion tonnes, and its container throughput exceeded 300 million twenty-foot equivalent units (TEUs).

Average daily ride-hailing and bike-sharing orders exceeded 20 million and 33 million, respectively, and express delivery companies handled an average of more than 300 million parcels every day, representing an improvement in transport services.

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