Total revenue of China's top 50 logistics companies surpasses two trillion yuan in 2023

The total revenue of China's top 50 logistics companies in 2023 surpassed two trillion yuan (about 276.33 billion U.S. dollars), with almost 90 percent of them engaging in international logistics operations, according to China Federation of Logistics and Purchasing on Tuesday.

The revenue threshold for the top 50 general logistics enterprises was 7.43 billion yuan (about 1.03 billion U.S. dollars), while for the top 50 private logistics enterprises, it was 1.55 billion yuan (214.5 million U.S. dollars).

The services provided by leading logistics enterprises covered key sectors that support the smooth flows of economy, of which bulk commodities and fast-moving consumer goods account for nearly 80 percent.

Data showed that the average assets of leading logistics enterprises approached 50 billion yuan (about 6.91billion U.S. dollars), with profit margin standing at around 5 percent. The efficiency and quality of asset utilization were relatively good.

"We will drive other logistics enterprises to enhance stewardship by following suit of the leading enterprises, especially through fund injection in digitalization, so as to provide better quality and effective logistics services," said Liu Yuhang, director of the China Logistics Information Center.

Total revenue of China's top 50 logistics companies surpasses two trillion yuan in 2023

The second Global South Think Tanks Dialog is set to start on Thursday in Nanjing City of east China's Jiangsu Province, aiming to address pressing global issues and amplify the collective voice of Global South countries in international affairs.

The event, themed "Global South: Equality, Openness, and Cooperation," gathers think tanks from around 100 countries and regions, along with Chinese universities and research centers.

Jin Xin, Director of the Research Office of the International Department of the Central Committee of the Communist Party of China (CPC), highlights that although the rise of the Global South has reshaped the global political and economic landscape, these countries remain underrepresented in international politics.

"The Global South accounts for more than 40 percent of the world's economy, and the contribution rate of the Global South to global economic growth has exceeded 80 percent in the past 20 years. However, its influence in international political discourse is still not enough. Global South countries are no longer the silent majority. All countries in the Global South have a strong urge to speak with a unified voice to express their common aspirations and enhance their representation and right to speak in global affairs," said Jin.

Global South Think Tanks Dialog to open in Nanjing