BEIJING -- China's logistics industry continued to post steady growth in the first 10 months of this year, official data showed.

The total value of social logistics in the January-October period grew 5.8 percent year on year to 244.4 trillion yuan ($34.7 trillion), said the China Federation of Logistics and Purchasing (CFLP).

The Logistics Performance Index stood at 54.2 percent in October, up 0.4 percentage points from September, according to the CFLP.

A reading above 50 percent indicates expansion, while that below it reflects contraction.