Chinese package company ZTO Express raised US$1.4 billion in its IPO in New York. Photo: Reuters/Thomas Peter

The State Council has passed provisional regulations on China’s express industry for the first time, amid dramatic growth in the annual volume of express deliveries, reported.

According to the State Post Office, a total of 40.06 billion express packages were delivered in 2017, 33.4 times the amount in 2007, and accounting for more than 40% of the total packages around the world.

Among the latter, 68% of the packages came from e-commerce businesses. The annual revenue of the express industry also reached about US$500 billion, 14.5 times of that in 2007.

Though China has secured first place in the world in terms of the scale of express delivery for four years, norms and rules are still not clear, often causing disputes over the loss of packages and sometimes endangering public safety and users’ information security.