BEIJING — China’s courier sector posted steady growth in the first nine months in 2018, according to the State Post Bureau (SPB).
The sector raked in 424.63 billion yuan ($61 billion) of revenue from January to September, up 24 percent year-on-year, with parcels delivered amounting to 34.74 billion, the SPB said.
The growth of business volume in the third quarter picked up pace to 25.6 percent after a slowdown in the April-June period.
In the first three quarters, leading courier enterprises saw stronger growth, resulting in a higher market concentration rate. The market share occupied by the top eight courier enterprises went up from 78.7 percent at the end of 2017 to the current 81.4 percent.
The cross-border courier services saw a vigorous 39.3-percent increase as companies accelerated their global push.