China's courier sector expands in first 11 months

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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 U.S. dollars) 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.

A college student receives the 50 billionth parcel in Beijing, December 29, 2018. /VCG Photo

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.

China has topped the world's market in delivery business for five consecutive years, and the country has handled 50 billion parcels so far this year.

Source(s): Xinhua News Agency