According to a new market research report from Reportlinker, the 3PL industry will boost the development of logistics in China, considering the constant expansion of foreign companies in China, the increasing demand for outsourcing, and government measures to stimulate the industry.

The 3PL industry China is still in an early development stage, with a high degree of regional concentration - mainly in the YRD and PRD regions.

Whilst Chinese manufacturers seldom select 3PL companies, foreign-funded manufacturers prefer them.

The development of China's logistics industry in 2008 can be divided into two periods:

• Rapid growth period: the total value of social logistics achieved a fast growth of 26.7% in the first three quarters of 2008
• Decline period: impacted by the global financial crisis, China's logistics industry dropped from September 2008, particularly in terms of port cargo turnover

Further influenced by the global financial crisis in 2009, China's logistics industry will step in the period of slow growth and structural adjustment, which will create new development opportunities for third party logistics.

Source