China to deliver 50 billion express parcels by 2020

Workers at a delivery service sort parcels in Hangzhou, Zhejiang province. China is set to further open its express delivery market to foreign companies. [Hu Jianhuan/China Daily]

BEIJING - China aims to deliver 50 billion express parcels annually, generating 800 billion yuan ($126.3 billion) in business revenue, by 2020, a postal official said Wednesday.

The target is equal to the annual sum of deliveries across the globe today, said Ma Junsheng, head of State Post Bureau in an online interview.

Total express deliveries would near 20 billion pieces with business revenue reaching 400 billion yuan in 2015, Ma said, adding that the sector has registered an annual growth rate of over 50 percent in the past five years, according to Ma.

The country plans to build an efficient and safe express delivery system with nationwide coverage, advanced technology and services and international connections by 2020, according to a policy document released last week by the State Council, China's cabinet.

Despite a slowing economy, express delivery services have grown steadily. The amount of express delivery packages has increased 8.2 times over the past six years. In the first half of 2015, express deliveries jumped by more than 43 percent year on year.

On average, each Chinese person received more than 10 parcels last year, even with only half of the country covered by the delivery network.