BEIJING — China’s courier sector continued to expand in the first 11 months of this year, according to the State Post Bureau (SPB).
The sector raked in 542.88 billion yuan (about $78.96 billion) of revenue from January to November, up 22.3 percent year-on-year, with the volume of parcels delivered amounting to 45.29 billion, the SPB said.
In November alone, the sector’s business revenue grew 14.6 percent to 64.83 billion yuan. The volume of delivered parcels saw a 24.4-percent increase to 5.86 billion.
Boosted by booming e-commerce, the express delivery industry saw fast growth over the past few years.
With an average annual growth of 42 percent in the past decade, the country’s courier sector has topped the world for four straight years in terms of business volume. The sector saw 495 billion yuan of revenue in 2017.