China's total social logistics reached 214.5 trillion yuan in Jan–Jul, up 5.0%
YoY. Logistics demand stayed stable with an improved structure. Industrial-goods
logistics rose 5.3% YoY in Jan–Jul; traditional mining-related logistics was
weak while manufacturing remained the growth engine. July manufacturing-related
logistics demand rose 5.5% YoY, about 1pp faster than overall industrial-goods
logistics. Equipment-manufacturing logistics jumped 12.3% YoY and high-tech
manufacturing-related logistics grew 16.9% YoY.