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In 2024, courier companies in China delivered more than * packages, representing an increase of **** percent from the previous year.

A rapidly growing market

Since the early 2000s, China's courier industry has grown exponentially, as major courier firms such as ZTO Express, YTO Express, and SF Express rapidly expanded their nationwide transport networks. This rapid growth is partially a result of the government's deregulation of the logistics industry but can also be attributed to China's booming e-commerce market. In 2023, nearly 84 percent of Chinese residents have made purchases online, representing a nearly *** increase from 2006.

A sector with tight profit margins

China's courier market is marked by its intensely competitive landscape. As the primary advantage of online shopping in the country is its significantly lower price compared to offline brick-and-mortar purchases, online retailers tend to opt for the courier service providers that charge the lowest rates. This has resulted in very tight profit margins for most carriers. In 2023, YTO Express recorded a per-package revenue of only **** yuan, with a per-package profit of around **** U.S. dollars. In 2022, FedEx’s average revenue per package delivered in the United States was more than ** U.S. dollars.