China's logistics sector in Dec reaches new high for 2024

China's logistics business volume continued to rise in December of 2024, with the prosperity index reaching a new high for 2024, indicating a significant increase in logistics activity, according to the China Federation of Logistics and Purchasing on Friday.

In December 2024, the prosperity index of China's logistics industry stood at 53.1 percent, up by 0.3 percentage points from the previous month.

Supported by favorable policies and inherent market dynamics, the total logistics business volume index has risen for five consecutive months.

Business volume indexes have shown balanced growth across the nation, with the eastern region experiencing the most significant climb.

From an industry perspective, there was a notable upturn in logistics demand during the month in sectors such as electrical machinery, semiconductors, communication equipment, transportation equipment, and new energy vehicle manufacturing.

In addition, the potential for residential consumption continues to be released, with stable demand for online shopping.

The total business volume indexes for road transport, water transport, and multimodal transport all showed varying degrees of increase month on month.

Meanwhile, the total business volume indexes for railway transport, air transport, and postal express industries remained above 55 percent, indicating a high level of prosperity.

"Throughout the year of 2024, the prosperity index of China's logistics industry demonstrated a pattern of stability followed by growth, maintaining a steady upward trend in overall logistics operations. The continuous enhancement of logistics service capabilities, characterized by high quality, high efficiency, and high adaptability, plays a crucial foundational role in promoting both domestic and international economic circulation, accelerating the flow of goods, and ensuring the stable operation of the national economy," said Liu Yuhang, director of the China Logistics Information Center.

China's logistics sector in Dec reaches new high for 2024

As China's elderly population grows, shopping malls in Shanghai have actively adapted part of their services to cater to the needs and preferences of elderly consumers, tapping into silver-haired consumer market.

This trend reflects the city's efforts to enhance elderly care services amid the population aging. By the end of 2023, people aged 60 and older reached 5.68 million in Shanghai, representing a whopping 37.4 percent of the city's total population.

A shopping mall on the downtown Nanjing East Road pedestrian street has opened a dedicated club for senior citizens, offering a diverse range of activities from the operation of health workshops to traditional handicraft classes.

"I gain a lot every time I come here. I can participate in various club activities and also exchange knowledge and everyday life hacks with others," said Fu Meilin, an elderly resident.

The mall houses nearly 60 time-honored brands, along with dining and entertainment options suited to senior citizens.

Another business district in Shanghai's Putuo District has adopted a different approach, focusing on attracting retirees during weekdays while catering to younger shoppers on weekends.

Restaurants offer affordable off-peak meal deals priced under 100 yuan (about 13.88 U.S. dollars), attracting a large number of senior customers.

To ensure a convenient and enjoyable shopping experience for the elderly, many shopping malls have conducted age-friendly renovations, including providing comfortable seating areas, accessible restrooms, and consumer guidance services for the elderly shoppers.

Driven by the population aging, China's "silver economy" has shown vast growth potential, with the market currently estimated at around seven trillion yuan and projected to reach a 30 trillion yuan by 2035.

Shopping malls in Shanghai adapt to cater to growing 'silver economy'