CHINA's "social logistics value", the total value of turnover in the country's logistics sector, grew 12.5 per cent year on year to CNY146.3 trillion ($23.04 trillion) in the first 11 months, reports the China Federation of Logistics and Purchasing (CFLP).

Yet the pace of growth has slowed for five consecutive months, down from 13.3 per cent in the first 10 months, said the CFLP, according to Xinhua.

Total spending on logistic services rose 18.5 per cent to CNY7.1 trillion in the same period, down 0.8 percentage points from that of the first 10 months, it said.

The CFLP attributed slowing growth to the country's macro policies on inflation control and economic structural adjustment.

Chinese logistics enterprises have also suffered from high costs, as revenues for the sector climbed 29.4 per cent year on year in the first 10 months of this year, while business costs grew 31.7 per cent from a year ago, said the CFLP.

The CFLP said logistics enterprises have witnessed a sharp decline in profit margin for major businesses, which dropped to 8.6 per cent in the first 10 months from 15.6 per cent in the first three quarters this year.