The China Federation of Logistics and Purchasing (CFLP) released the August
China e‑commerce logistics index on the 11th; the index rebounded to 111.5, up
0.3 pts MoM and to a relatively high level for the year, with eight of nine
subindices rising. Supply-side indicators improved: inventory turnover +0.4 pts
MoM, logistics timeliness +0.5, order fulfillment rate +0.9 and customer
satisfaction +0.1, with several metrics rising for consecutive months. Labor and
transport utilization ticked higher: personnel index +0.3 pts and vehicle load
factor +0.6 pts.