China's logistics sector reports higher growth

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 U.S. dollars) 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.