(Photo/Xinhua)

China's express delivery business exceeded that of the U.S., Japan and European economies combined in 2018, accounting for more than half of the global express delivery market, according to a report on the industry released by the State Post Bureau on July 10.

Chinese delivery firms handled a total of 50.7 billion parcels in 2018, up 26.6 percent from the previous year.

The industry developed at a rapid pace in some regions. Twelve provinces handled a total of 44.66 billion parcels, accounting for 88.1 percent of the nation's total.

The express delivery industry has also accelerated international business. Chinese companies have built 78 warehouses in countries along Belt and Road routes. Eighteen key provinces along the Belt and Road delivered 920 million parcels to overseas countries in 2018, a year-on-year increase of 39.4 percent.

It is predicted that China's express delivery industry will maintain rapid growth in 2019. The annual business volume will exceed 60 billion items, with a revenue of 715 billion yuan.