Couriers and hulking warehouses are to China’s $600bn ecommerce sector what shovels were to the gold rush: the crucial element of a rapidly growing industry.
What China’s logistics sector lacks in glamour it makes up for in sheer heft. The mainland industry is worth some $2.2tn, out of $9tn globally, according to logistics consultancy Armstrong & Associates.
Of that, express — effectively ecommerce delivery — accounted for $43.5bn last year and is the fastest growing segment, expanding at a compound annual rate of more than 30 per cent.
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