China's logistics sector registers growth in Q1

BEIJING, May 2 (Xinhua) -- China's logistics sector rallied in the first quarter of the year, according to an industry report.

From January to March, social logistics rose 5.9 percent year on year at comparable prices to 88 trillion yuan (about 12.4 trillion U.S. dollars), according to the China Federation of Logistics and Purchasing.

The growth rate was 2 percentage points higher than that in the same period last year, said the federation, adding that China's logistics sector is picking up.

In breakdown, logistics for industrial products, resident consumption and imported goods rose 6 percent, 11.6 percent and 5.5 percent, respectively, according to the federation.

In the first quarter, revenues of the sector totaled 3.1 trillion yuan, up 4.5 percent year on year. ■