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Even package deliveries take tumble with China lockdowns

Booming sector suffers rare volume setback, but some companies post higher revenues

Local authorities in parts of Shanghai and other cities have barred residents of some neighborhoods from receiving deliveries and erected barriers to restrict movement.    © Reuters

HONG KONG -- Even as millions of Chinese were forced to depend on delivery services last month while restricted to their homes in Shanghai and other cities, the country's courier companies experienced an unprecedented setback.

SF Holding and its three listed rivals saw their April package volumes fall from a year before, the first time this has happened outside of the Lunar New Year holiday season since the couriers began releasing monthly data in late 2017 in line with a Shenzhen Stock Exchange requirement.

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