China's logistics sector reports higher growth

BEIJING -- Higher growth was reported in China's logistics sector for the first eight months of 2013 on Sunday, with goods worth 127 trillion yuan ($20.62 trillion) moving around the country.

The sector's 9.5 percent year-on-year growth in the first eight months gained 0.2 percentage points from the January-July period, according to data released by the China Federation of Logistics and Purchasing.

Costs in the logistics sector rose 9.1 percent year-on-year to 6.1 trillion yuan and the growth rate was also up 0.2 percentage points from the January-July period.

The sub-index for logistics service prices rose 2.6 percentage points to 50.6 percent in August, the first time the sub-index has been above the boom-bust line of 50 percent since May. A reading above 50 indicates steady growth momentum.

The federation said that increasing demand for logistics and improving performances of companies were among the factors boosting the sector's growth.