On February 11th, the China Logistics Information Center released data showing that the total amount of social logistics in China for the whole year of 2024 was 360.6 trillion yuan, a year-on-year increase of 5.8% at comparable prices, and a growth rate 0.6 percentage points higher than that of the whole year of 2023. By quarter, the growth rates from the first quarter to the fourth quarter were 5.9%, 5.7%, 5.3%, and 5.8%, respectively. The first quarter started well, the second quarter continued to maintain a stable development trend, the growth rate slowed down in the third quarter, and downward pressure appeared. Driven by a package of policy measures, the fourth quarter stabilized and rebounded, and the growth rate of logistics demand for the whole year remained stable with some progress. Meng Yuan, Deputy Director of the Logistics Statistics Department of China Logistics Information Center, told Securities Daily reporters that in 2024, the General Office of the Communist Party of China Central Committee and the General Office of the State Council jointly issued the "Action Plan for Effectively Reducing Logistics Costs in the Whole Society". Under the policy guidance and coordinated promotion of relevant departments such as the National Development and Reform Commission, the action to effectively reduce the logistics costs of the whole society has been solidly promoted. The logistics operating environment continues to improve, the integration and innovation of logistics and industry are accelerating, the market size advantage continues to be consolidated, the efficiency of social logistics operation steadily improves, and the logistics operation presents positive changes throughout the year. The scale of the logistics market is steadily growing. Under the influence of policies and diverse demands, the combination of new and old driving forces and the alternating recovery trend are becoming more apparent, and the growth mode of logistics demand is accelerating from extensive to high-quality, "said Meng Yuan. From the perspective of growth contribution, the total amount of industrial logistics increased by 5.8% year-on-year, with a growth contribution rate of 77%, which is the main driving force for the growth of logistics demand; Driven by the development of new business models, the total logistics volume of units and residents' goods increased by 6.7%, with a contribution rate of 11%, which is an important potential for the growth of logistics demand. With the solid promotion of the new development concept of the national economy and the acceleration of the construction of a new development pattern, the overall improvement of logistics demand structure, and the gradual emergence of the driving role of new engines. From a structural perspective, the total logistics volume of renewable resources, combined with the total logistics volume of units and residents, accounts for 5%, which has slightly increased compared to 2023. The demand for green and digital logistics is showing a clear development trend; The total logistics volume of agricultural products and the total logistics volume of imported goods account for 7% of the total, and the proportion remains stable; The total logistics volume of industrial products accounts for 88%, with a slight decline compared to the same period. It is worth noting that the scale of China's logistics market will maintain steady growth in 2024, with a total revenue of 13.8 trillion yuan for the year, a year-on-year increase of 4.9%. The deep integration of logistics and industry has continuously improved the competitiveness of comprehensive services. By 2024, the logistics business revenue of top logistics enterprises will exceed 2 trillion yuan, accounting for more than 16% of the entire industry. Meng Yuan stated that the synergy between logistics supply and demand continues to strengthen, providing important guarantees for stable economic growth. From the comparison of logistics and economic data, the growth rate of physical logistics volume continues to be higher than economic growth, and logistics activity is good. The growth rate of total social logistics volume in each quarter of the year has remained above 5%, which is higher than the GDP growth of the same period; The average annual prosperity index is 51.7%, showing a pattern of "stability before rise", synchronized with the operation of freight volume. According to data on logistics companies accelerating their green transformation, the ratio of total social logistics costs to GDP will be 14.1% in 2024, a decrease of 0.3 percentage points from 2023. The logistics cost ratio of each link has decreased, with transportation cost to GDP ratio of 7.6%, a decrease of 0.2 percentage points compared to the same period in 2023, management cost to GDP ratio of 1.7%, a decrease of 0.1 percentage points compared to the same period in 2023, and storage cost to GDP ratio of 4.8%, which is basically the same as the same period in 2023. Meng Yuan stated that with the intensive introduction of multiple policies, the level of macro logistics governance has steadily improved, institutional costs have been reduced, transportation efficiency has tended to improve, the flow efficiency of logistics factors is good, and the role of logistics in promoting economic circulation has been enhanced. Specifically, with the development and upgrading of new quality productivity, logistics structure is moving towards optimization and management is moving towards quality. One is that efficient transportation methods recover quickly,? The proportion has increased. The annual civil aviation cargo volume increased by 22.1% year-on-year, and the proportion of air transportation modes increased by 0.2 percentage points compared to 2023.? Secondly, the development trend of collaborative transportation is good, and the intermodal connection is even closer. Thirdly, the efficiency of water transportation has been improved, and long-distance transportation is steadily advancing around the water. The fourth is to gradually establish a supply chain system and collaborate to promote cost reduction throughout the entire chain. Our country has a stable economic foundation, multiple advantages, strong resilience, and great potential. Logistics has the conditions for long-term development, and the trend of logistics enterprises moving towards high quality, intelligence, and greenness will continue Meng Yuan stated that the intelligent transformation of logistics enterprises helps improve efficiency, and the intelligent transformation of logistics has become the core driving force for industry development. The application of cutting-edge technologies such as automated warehouses, drone delivery, and robot sorting in the logistics field is becoming increasingly widespread, bringing efficiency improvements and cost optimization to the industry. Under the dual drive of policies and markets, the green transformation process of logistics enterprises has significantly accelerated. (New Society)