The WeChat Official Account "China Federation of Logistics & Purchasing" reported on April 4th that the China Federation of Logistics & Purchasing released the China Logistics Business Activity Index (LPI) for March 2025, which was 51.5%, a rise of 2.2 percentage points compared to the previous month. All sub-indices showed an increase, with significant rebounds in business volume index and new orders index. Among the main indices, business volume index, new orders index, inventory turnover frequency index, and business activity expectations index were all in the expansion zone. The data reflects that on the basis of stable market recovery expectations after the holiday, the resumption of work and production along the supply chain has been carried out as scheduled, the industrial demand has been orderly released, and the overall efficiency of the full-chain operation has improved.
The business volume index rebounded, and the regional index adjusted synchronously. Some industries showed good momentum in logistics demand recovery. In March, the business volume index was 51.5%, rising by 2.2 percentage points from the previous month. By region, all three major areas—east, central, and west—were in the expansion zone. The business volume index for the western region was 50.9%, up 2.4 percentage points from the previous month, consistent with the predicted trend of last month. By industry, the business volume index for railway transportation, water transportation, air transportation, and postal express logistics rebounded significantly. Since March, major projects have started construction in batches, industrial production has maintained a stable operating rate, and production and circulation links have returned to normal. Bulk and raw material logistics demand has rebounded, and the supply and demand of coastal bulk cargo transportation have been generally balanced. The water transportation business volume index was 46.5%, rising for two consecutive months. The business volume index for railway transportation and road transportation rebounded to 54.7% and 51.2%, respectively, remaining in the expansion zone. Physical and online consumption has stabilized and recovered, and the demand for urban distribution logistics has grown rapidly. The business volume index for postal express logistics was 68.2%, up 1.9 percentage points from the previous month. The air transportation sector continued its upward trend, with good utilization of passenger aircraft cargo compartments. The business volume index for air transportation was 68.2%, up 2.3 percentage points from the previous month.
The new order index for the logistics industry in various sectors has generally rebounded. In March, the new orders index was 51.9%, rising by 1.3 percentage points from the previous month. By region, the new orders index for the eastern and western regions was 51.4% and 52.9%, respectively, increasing by 0.5 and 0.6 percentage points, respectively. The newly added demand in the central region led the growth, with the new orders index for the central region exceeding 52%, up 2 percentage points from the previous month. In major industries, the new orders index for railway transportation, road transportation, air transportation, postal express logistics, and multimodal transport were all above 50% in the expansion zone. In terms of changes from the previous month, the new orders index for railway transportation, postal express logistics, water transportation, and multimodal transport rebounded significantly, rising by 1.5-2.8 percentage points, better than the average increase. The number of new orders for trunk line transportation and urban delivery increased significantly, with the new orders index for road transportation rising by 0.6 percentage points from the previous month. From our survey, we learned that in some industries such as smelting and chemical industry, equipment manufacturing, intelligent equipment manufacturing, and new energy vehicle manufacturing, there is an increasing trend in integrated supply chain new orders. The proportion of single-link new orders and logistics supporting new orders is declining, but it still accounts for a large share.
The speed of logistics transfer and commodity turnover has accelerated, and the business performance of enterprises continues to improve. In March, the improvement in both the supply and demand sides of logistics continued. The inventory turnover frequency index was 50.9%, up 0.3 percentage points from the previous month. Except for the water transportation sector, the inventory turnover frequency index for other industries also rose, reflecting that the overall supply chain and commodity circulation were smooth, and the circulation speed of commodities increased. At the same time, the equipment utilization index of enterprises rose by 0.3 percentage points, and the logistics fixed asset investment completion amount index rose by 2.3 percentage points, indicating that the logistics response capability quickly improved, timely meeting the elastic operational needs of the supply chain and supply chain. The business efficiency and profitability of enterprises remained steadily improving. In March, the main business profit index rose by 0.2 percentage points from the previous month. The gap between the profitability levels of large enterprises and small and micro enterprises narrowed. In March, the main business profit index for small and micro enterprises was 48.5 and 47.6%, respectively, both rising by 0.3 percentage points from the previous month. The gap between small and micro enterprises and large enterprises narrowed to around 3 percentage points.
The situation regarding human resources, fixed investment, and market expectations is favorable, providing a foundation for recovery. In March, the employment situation in logistics remained stable and improved slightly. The employment personnel index rose by 0.7 percentage points, with all industries showing a slight upward trend. The employment personnel index for air transportation and postal express logistics was in the expansion zone. At the beginning of the year, the "National Logistics Hub Layout Optimization Adjustment Plan" was issued, effectively adapting to regional economic and industrial changes, and improving the balanced development level of the hub network. Sixty percent of the newly added hubs in the central and western regions accounted for the increment. The major projects for building a strong transportation nation had a good start, entering a new stage of development. The policy linkage effectively promoted the recovery of investment momentum in logistics in the central and western regions. The fixed asset investment completion amount index rose by 2.3 percentage points from the previous month. By region, the fixed asset investment completion amount index for the eastern, central, and western regions rose by 1.1, 1.8, and 2.9 percentage points, respectively. Enterprises remain relatively optimistic about their future expectations. In March, the business activity expectation index was 55.2%, rising by 0.8 percentage points from the previous month. The expectation indexes for air transportation and postal express logistics remained in a high level of prosperity.
Original article: https://www.toutiao.com/article/7489607246570078720/
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