On February 27th, the China Federation of Logistics and Purchasing released an analysis report on the total social logistics costs in China for 2024. The report shows that in 2024, the ratio of total social logistics costs to GDP in China was 14.1%, a decrease of 0.3 percentage points from 2023 and the lowest level in history. The logistics costs saved that year exceeded 400 billion yuan. It is understood that from the perspective of statistical indicators, the ratio of total social logistics costs to GDP is usually used as the core indicator to measure the overall logistics cost efficiency of the society. Its changes to a certain extent reflect the relationship between the comprehensive efficiency of China's logistics system and the quality of the real economy operation. Fu Yifu, a special researcher at Su Shang Bank, stated in an interview with Securities Daily that by 2024, China will save over 400 billion yuan in logistics costs, which means the overall efficiency of logistics operations will be improved, which is conducive to further unleashing the vitality of the overall economic operation. The report shows that the ratio of total social logistics costs to GDP has steadily declined in each quarter of 2024, with logistics costs per 100 yuan of GDP created decreasing from 14.4 yuan in 2023 to 14.1 yuan in 2024, indicating a reduction in social logistics costs during economic operations. Zhu Hualei, Senior Investment Advisor of Shaanxi Jufeng Investment Information Co., Ltd., told Securities Daily reporters that in 2024, China's social logistics costs will be reduced, which is beneficial for production enterprises to reduce total product costs and expand market share; The faster and cheaper delivery of goods to consumers enhances their shopping experience and further stimulates consumer demand; At the same time, the reduction of logistics costs is also conducive to breaking down market barriers between regions, promoting the construction of a unified national market, and facilitating the circulation of goods and services on a larger scale. Fu Yifu stated that logistics is an important link connecting the production and consumption ends. The reduction of logistics costs helps to smooth the circulation of the national economy, better connect the production and consumption ends, and provide strong support for high-quality development. The transformation and upgrading of industrial structure is the economic foundation that drives down the ratio of social logistics costs to GDP in China. The report shows that in 2024, China's economic development structure will be optimized and the driving force will be new. The proportion of the tertiary industry will steadily increase, and while the proportion of the secondary industry remains stable, the manufacturing industry will continue to develop towards a high-end trend. Economic factors such as industrial upgrading and an increase in the proportion of service industry have driven a decrease in the demand scale and freight volume of unit logistics GDP (i.e. an increase in GDP created by the same physical freight volume and logistics costs). In addition, in 2024, under the guidance and promotion of multiple policies, attaching importance to the role of modern logistics and accelerating the high-quality development of logistics has become a consensus of the whole society. The policy environment has been optimized, and the modern logistics support system is constantly improving. From the perspective of logistics services, structural adjustment and technological innovation are the endogenous driving forces behind the efficient operation of logistics. In 2024, the logistics supply and demand will be well adapted, with stable service scale and improved service quality, especially in the areas of structural adjustment and technological innovation, where collaborative efforts have shown results. What other aspects can we make efforts to continuously promote effective reduction of logistics costs for the whole society? Zhu Hualei stated that measures can be taken from multiple aspects, such as improving infrastructure, promoting the development of logistics enterprises, and promoting industrial synergy. For example, we can increase investment in logistics information platforms, build a nationwide logistics public information platform, promote the interconnection and sharing of logistics information, and improve the transparency and accuracy of logistics information; Encourage logistics companies to utilize technologies such as big data, artificial intelligence, and the Internet of Things to enhance the intelligence level of logistics operations and achieve optimized allocation of logistics resources. The report shows that the current decline in the ratio of total logistics costs to GDP is the result of a combination of factors such as policy promotion, economic optimization, and improvement in logistics quality and efficiency. In the next stage, it is still necessary to further break through bottlenecks through industrial layout optimization, supply chain system co construction, logistics service upgrading and other means, and help effectively reduce the logistics costs of the whole society. (New Society)