" Express" was included in the central bank's heavyweight report for the first time!
Recently, the " Report on China's Monetary Policy Implementation" was officially released in the second quarter of 2018, which included express delivery for the first time. It analyzed the orientation and development of express delivery industry from a monetary point of view, and also put forward relevant suggestions.
The Monetary Policy Analysis Team of the People's Bank of China regularly publishes the Report on the Implementation of China's Monetary Policy, which is regarded by the outside world as an important weathervane for analyzing the trend of China's economy. This report also sets the tone for monetary policy in the second half of the year.
For the first time, the report mentioned the express delivery industry and online retail and gave a high evaluation. According to the report, online retailing and express delivery are the main areas to promote the deep integration of the Internet, big data, artificial intelligence and real economy. They are also important starting points for developing the digital economy, promoting structural reforms on the supply side and building a modern economic system. They play an important role in driving innovation and entrepreneurship, boosting rural revitalization and promoting economic transformation and upgrading.
The report shows that the rapid development of online retail transactions in China in recent years has given birth to huge demand for logistics transportation and distribution, driving the express delivery industry to grow at a high speed. In the first half of 2018, online retail sales nationwide reached 408 billion yuan, up 30.1 % year on year, far higher than the growth rate of total retail sales of social consumer goods. Driven by the rapid development of online retailing, the business volume of national express service enterprises in the first half of 2018 totaled 22.08 billion pieces, up 27.5 % year on year. Business income totaled 274.5 billion yuan, up 27 % year on year.
From the demand side, the younger consumers, the continuous increase in disposable household income, and the deepening of urbanization will stimulate greater consumption potential. From the supply side, the development of digital technology will create a richer application scenario for online retailing and promote business model innovation.
The report points out that the development of express delivery industry and online retailing still faces four major challenges: First, the online traffic dividend tends to be saturated; Second, the cost of online retail customers and logistics has increased. Third, consumers' demands for service, quality and experience are constantly rising, and the value of offline retail outlets and experience is irreplaceable, thus forming a strong competition for online retail. Fourth, the online retail enterprises put forward higher requirements on the personalized service capability and operational efficiency of high-standard warehouses and third-party logistics enterprises, and the high cost squeezed the profit space of the express delivery industry.