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China post industry increases revenues by 15.9% in 2008

(Xinhua)
Updated: 2009-01-13 10:25

China's post industry received 140.7 billion yuan ($20.5 billion) in revenue in 2008, up 15.9 percent year-on-year, the State Post Bureau (SPB) said Monday.

The industry includes postal services and postal savings. Revenues of postal services, including express mail and philatelic services, rose 14 percent to 96 billion yuan.

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State Post Bureau head Ma Junsheng said Monday that new services, such as Internet commerce, played a main part in driving the industry.

Express mail, which accounts for more than 43 percent of the postal industry, took in 40.7 billion yuan last year, up 18.8 percent over 2007.

The SPB set a goal in 2009 to increase overall business revenue by 13 percent to 159 billion yuan. The express business was expected to rise 18 percent to 48 billion yuan.

The SPB is the regulator of China's postal industry and manages postal enterprises nationwide. The country's biggest postal service player, China Post, is under the direct administration of the bureau.