China's logistics industry retained upward trend in September, with the average prosperity index increasing 0.9 percentage points from the previous month to 52.4 percent, according to data released by the China Federation of Logistics and Purchasing (CFLP) on Tuesday.
Breaking down the data, both the total business volume index and the index for new orders saw continuous rebound and remained in the expansion range.
Specifying in industries, the logistics demand of consumer packaged goods saw a rapid growth, while that of electronic components, pharmaceutical and chemical industries, automobile manufacturing and parts, communications equipment, home appliances and other durable consumer goods picked up steadily.
The CFLP data also showed that the total business volume index of railway transport and road transport stood at 54.4 percent and 53 percent in September, a monthly increase of 0.5 percentage points and 0.6 percentage points, respectively.
For air transport, the total business volume index and the index for new orders edged up 0.8 percentage points and 1.1 percentage points to 57.8 percent and 59.5 percent, respectively.
The e-commerce logistics sector saw an increased activity with the total business volume index of postal delivery services coming to 69.9 percent in September, much higher than the average level of the whole logistics industry. The daily average business volume of key postal delivery companies surveyed experienced an 8-percent growth over the previous month.
"The prosperity index of China's logistics industry sustained upbeat trend in September, showing the further improvement of the supply-demand structure of the industry since the beginning of the third quarter. The overall operational activities of the sector have become more active, stimulating the rapid growth of physical logistics," said Liu Yuhang, director of the China Logistics Information Center.
China sees well-oiled logistics with surging business demand
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition