BEIJING, March 27 -- China will see the implementation of a new regulation on express delivery services to help the sustainable and healthy development of the rapidly-growing sector.
As the first separate law in the sector, it will be effective on May 1, according to a decree by the State Council, signed by Premier Li Keqiang.
The regulation aims to establish a regulatory framework to guide the operation of courier services companies and improve the protection of consumers, and tackle emerging problems including information security and packaging waste.
With average annual growth of 42 percent in the past decade, China's delivery services sector has topped the world for four straight years in terms of business volume. Over half of global deliveries were made by Chinese companies.
The sector saw 495 billion yuan (nearly 80 billion U.S. dollars) of revenue in 2017.
The regulation also encourages businesses to launch cross-border delivery services and increase their presence in overseas markets.
"It will help China build an express delivery network connected with the world and support a global logistics system," said Wei Jigang, researcher with the Development Research Center of the State Council.