BEIJING, May 15 -- China's logistics industry will grow at a slower pace this year, following a period of industrial restructuring and weak economic growth, according to a report released on Thursday.
The total value of social logistics goods will expand by 9 percent year on year in 2014 from 197.8 trillion yuan's (about 32 trillion U.S. dollars) worth of goods circulated last year, said a report released by the China Federation of Logistics and Purchasing and the China Society of Logistics.
The expected growth will be 0.5 percentage points lower than that seen last year.
As the Chinese economy grew 7.4 percent year on year in the first quarter of 2014, the logistics industry also lost steam, expanding by only 8.6 percent to 47.8 trillion yuan.
Driven by the boom in e-commerce, express and warehouse services have outpaced shipments by roads, rivers and the sea, the report said.