China's road logistics price index up in October

Freight trucks line up to pick up loads in Fengtai District, Beijing, capital of China, June 9, 2022. (Xinhua/Li Xin)

BEIJING, Nov. 2 (Xinhua) -- China's road logistics price index went up 3 percent year on year in October, industry data shows.

The index came in at 103.3 last month, edging down 0.15 percent from September, according to a survey jointly conducted by the China Federation of Logistics and Purchasing and the Guangdong Lin'an Logistics Group.

Road logistics price indices for all types of vehicles maintained a slight increase year on year in the period, with the sub-index for full truckload logistics price, which mainly measures bulk commodity and regional transportation, rising 2 percent over one year earlier.

The survey attributed the month-on-month price drop last month to factors including COVID-19 resurgence, slower growth of demand, and the transportation rush prior to the National Day holiday.

It is upbeat about the road transportation market in the fourth quarter, noting that the continuous implementation of China's policies on stabilizing the economy and the smooth operation of industrial and supply chains are expected to boost the market further and lead to the rebound of the road logistics price.