According to the Zhitong Finance APP, the China E-commerce Logistics Index for September 2024, jointly released by the China Federation of Logistics and Purchasing and jd.com, was 114.4 points, up 0.2 points from the previous month. Among the sub-indices, the total business volume index, rural business volume index, logistics efficiency index, fulfillment rate index, inventory turnover rate index, actual load rate index, personnel index, and cost index have all increased, while the satisfaction rate index has decreased.

The total business volume index for e-commerce logistics continued to rise. In September, the total business volume index for e-commerce logistics was 131.2 points, an increase of 0.7 points from the previous month. Across regions, the total business volume index in all regions of the country has increased, with the Northeast region experiencing the largest increase of 0.9 points.

The business volume index for rural e-commerce logistics has stopped falling and started to rise. In September, the business volume index for rural e-commerce logistics was 129.4 points, an increase of 0.5 points from the previous month. Across regions, the business volume index for rural areas in all regions of the country has increased, with the western region showing the largest increase. The business volume index for rural e-commerce in the eastern region exceeds the national average, reaching 130.1 points.

Fulfillment and efficiency indices continued to rise, while e-commerce logistics satisfaction rate slightly declined. In September, the service capabilities of e-commerce logistics companies continued to improve, with the logistics efficiency index and fulfillment rate index increasing by 0.1 and 0.3 points respectively, maintaining high levels of operation. The satisfaction index remains at a high level since its inception, reaching 103.5 points, showing basic stability with a slight decrease of 0.2 percentage points.

Inventory turnover rate and actual load rate indices have stopped falling and started to rise. In September, driven by the growth in holiday consumption, enterprise inventory turnover accelerated, with e-commerce logistics enterprise inventory turnover rate increasing by 0.4 points month-on-month. The actual load rate index also rose in sync, increasing by 0.2 points from the previous month. At the same time, the personnel index remained unchanged, the cost index increased slightly by 0.3 points, and enterprise operations remained stable.

With the arrival of the back-to-school season and the Mid-Autumn Festival, consumer potential continues to be unleashed, online shopping activities are becoming more active. In September, the e-commerce logistics index increased by 0.2 points month-on-month, with the growth expanding as expected. From the demand side, total transaction volume of Mid-Autumn Festival-related goods increased by 26.55% year-on-year. The 'trade-in' support policies have been successively introduced in various regions, effectively boosting consumer enthusiasm. Coupled with the arrival of the new school season, the demand for digital products such as mobile phones, computers, and smartwatches has increased synchronously, leading to a 0.7-point increase in the total business volume index of e-commerce logistics.

At the same time, holiday rural consumer spending also drove the rural e-commerce logistics business volume to stop falling and increase by 0.5 points. During the Mid-Autumn Festival, the national express delivery handled 1.307 billion packages, an average daily increase of 35.4% year-on-year; delivered 1.407 billion packages, an increase of 45.7% year-on-year. From the supply side, extreme weather conditions in September eased compared to August, while express delivery companies improved delivery efficiency through batch shipments, stocking in warehouses, and direct vehicle dispatch mode to meet the peak shipping demand of 4 million express delivery personnel nationwide. The logistics efficiency, fulfillment rate, and inventory turnover rate indices have all increased.

It is worth noting that after a significant decrease in costs in August, e-commerce logistics companies did not experience a significant rebound in costs this month despite an increase in demand, indicating an enhanced ability to control costs. Overall, the e-commerce logistics index in September saw a widening increase, with demand in the e-commerce logistics market maintaining a growth rate of over 30% since the second half of the year, ensuring steady market development. Looking ahead to October, with the peak travel during the National Day holiday and the stimulation of various investment and consumption policies, the e-commerce logistics index is expected to continue to grow steadily, with the possibility of further expanding the growth rate.