As the peak consumption season approaches, logistics and business districts are becoming more popular

With the arrival of the fourth quarter, my country's consumption has entered the traditional peak season. The latest high-frequency economic data show that my country's logistics and commercial activities are becoming more frequent, online and offline consumer demand continues to be released, and the vitality of service consumption has been significantly enhanced. With the support of the government's consumption subsidy policy, many experts predict that the trend of consumption recovery is gradually becoming clear.

According to data released by the China Federation of Logistics and Purchasing on November 11, China's e-commerce logistics index reached 115 points in October, up 0.6 points from the previous month; the total business volume index of e-commerce logistics was as high as 133.7 points, setting a new record in the past five years. In addition, China's logistics industry prosperity index also rebounded from September, showing the prosperity of the logistics industry.

While online consumption is booming, offline business circles are also full of vitality. According to data from the National Information Center, the offline consumption heat index in October increased by 8.2% year-on-year and increased by 2.9 percentage points from the previous month. According to data from the China General Chamber of Commerce, China's retail industry prosperity index was 51.0% in November, up 0.2 percentage points year-on-year. The three major classification indexes are all in the expansion range, indicating that the business prospects of the retail industry are optimistic.

It is particularly noteworthy that the life service consumption heat index in October increased by 12.7% year-on-year, among which the accommodation industry, leisure and entertainment industry, and catering industry increased by 17.9%, 14.5% and 12.2% year-on-year respectively, highlighting that the consumer market is recovering sharply.

Recently, the National Development and Reform Commission, the Ministry of Commerce and other departments have intensively launched multiple policies and measures to expand domestic demand and promote consumption, such as promoting the trade-in of consumer goods, promoting high-quality development of service consumption, and accelerating the cultivation of international consumer center cities.

According to data from the Ministry of Commerce, as of October 30, the automobile trade-in platform has received a total of 1.676 million applications for scrapping and renewal subsidies, driving sales of more than 400 billion yuan. CICC analysis predicts that the consumption growth rate in October will increase to about 3.7% under policy stimulus.

Experts said that with the implementation of stock policies and the continuous introduction of incremental policies, the vitality of the consumer market will be further stimulated. As the traditional peak season for consumption, the fourth quarter has rich and diverse service consumption scenarios, which is expected to continue to promote the acceleration of consumption growth and help the consumer market continue to recover.