The Zhitong Finance App learned that the China Logistics Industry Sentiment Index for September 2026 released by the China Federation of Logistics and Purchasing was 51.5%, up 0.6 percentage points from month to month. In the sub-index, indices such as total business volume, new orders, inventory turnover, capital turnover, equipment utilization, logistics service prices, main business costs, fixed asset investment completed, employees and business activity expectations rebounded month-on-month. Looking at data changes since the third quarter, demand in the logistics business has increased, and micro operations have stabilized, laying the foundation for the smooth operation of the logistics boom in the fourth quarter.
The Total Business Volume Index and the New Orders Index are in the expansion range. The total business volume index was 51.5%, up 0.6 percentage points from the previous month. By region, the total business volume index for the eastern, central and western regions was 51.3%, 51.2%, and 51.7%, respectively. They all rebounded from month to month. Among them, the total business volume index in the eastern region rebounded 1 percentage point from month to month, which was the main driving force for the recovery of the total business volume index. The new orders index was 51.2%, up 0.4 percentage points from month to month, but there was regional differentiation. The new orders index for the eastern region and central region was 51.4% and 51.6%, respectively, up 0.2 and 1 percentage point from month to month, while the new orders index in the western region fell 0.5 percentage points from month to month.
Corporate cost pressure still exists, but operational efficiency has improved and profit resilience has stabilized. In the first nine months of this year, the main business cost index was at a high level of more than 52%. In September, the main business cost index rebounded 0.4 percentage points from month to month. Enterprises reported a rigid rise in human resources, logistics management, and energy costs. Despite cost pressures, business operations and profits remained steady. The capital turnover index was 51.6%, up 0.5 percentage points month-on-month, and rebounded for two consecutive months; the equipment utilization index was 50.1%, up 0.5 percentage points from month to month, returning to the expansion range for the first time since this year; the inventory turnover index rebounded for 5 consecutive months, and the average inventory volume index fell 0.2 percentage points month-on-month; the main business profit index remained flat in September and August, and the average for the third quarter was the same as in the second quarter.
Infrastructure investment remains active, the number of jobs is expanding, and market expectations are improving. The fixed asset investment completion index rebounded 0.4 percentage points month-on-month and has been operating in a high boom range for many months. Growth in business volume and demand led to job expansion. The employee index rebounded 0.2 percentage points month-on-month, and the average for the third quarter rebounded 0.7 percentage points from the second quarter and 0.8 percentage points from the first quarter. The expected business activity index was 56.2%, up 1.8 percentage points from month to month. Companies maintained optimistic expectations for the fourth quarter, and their willingness to invest and confidence in stabilization increased at the same time.
Overall, the development of logistics operations showed a multi-dimensional improvement trend, sending a positive signal. First, the physical volume growth rate was steady. Some road transport companies surveyed reported a 3% month-on-month increase in lower trunk line traffic driven by peak season consumption, and the total business volume indices for railway transport, road transport, and postal express delivery industries rebounded 0.5, 0.8, and 0.3 percentage points from month to month, respectively. Second, the basic demand market continues to consolidate, the new order index continues to expand, and industry logistics demand has further improved; third, operational efficiency has reached an inflection point, equipment utilization has rebounded to the expansion range, and inventory turnover throughout the industrial chain has accelerated, and the efficiency of connecting enterprise production, supply and marketing has improved. Looking ahead to the fourth quarter, logistics operations will maintain a steady and progressive trend as the construction of the “Six Networks” progresses, all regions combine the “15th Five-Year Plan” to review construction directions, sort out project reserves, and make joint efforts at the government and market levels.