物流业是支撑经济社会发展的基础性产业和战略性产业，国家层面已将物流业的发展认定为推进供给侧结构性改革、增加公共产品和公共服务供给的重点方向。国务院及相关部委陆续出台了《全国物流园区发展规划(2013-2020)》、《物流业发展中长期规划(2014-2020)》、《国务院关于促进快递业发展的若干意见》和《物流业降本增效专项行动方案(2016-2018)》以及《关于加强物流短板建设，促进有效投资和居民消费的若干意见》等相关政策。

戴德梁行日前发布的“ 2016 年四季度全国物流地产市场报告”指出，各种因素增加了未来大批物流开发项目前景的不确定性。认为，中国高端物流市场正在经历一些结构性的变化，原来排名靠后的几家物流地产商联合发力不断挤压首位的市场份额，国际资本对高端物流地产市场的投资也有变动迹象，2016 年年底的高端物流地产数据开始暗示未来高标库的需求可能跟不上整个市场未来供应……

The global connected logistics market is experiencing significant growth. The use of advanced IT solutions such as internet of things (IoT), Big Data analytics, cloud computing, and remote temperature monitoring systems have revamped logistics services. Third-party logistics (3PL) service providers such as DHL have implemented advanced IT solutions for their connected logistics solutions.Cloud-based software solutions have been widely adopted by the logistics service providers. In 2015, the cloud-based software solutions grew by an approximate 34% in the logistics market. Software solutions that reduce the cost of the supply chain systems gathered traction in the market. Smart connected devices, smart sensors, the radio frequency identification (RFID) technology, and other advanced wireless technologies registered high demand in 2015.

Packaging machinery is used to package products before they are dispatched to distribution networks and for storage. Packaging machinery are used in the primary and secondary packaging of food, beverage, and pharmaceutical and personal care products. Primary packaging is an important part of the marketing mix as it has a strong impact on the buying decision. In addition, packaging machinery is widely used for filling, labeling, coding, and wrapping products.

The paperboard packaging market is making rapid strides in the global packaging market. The major consumers of paperboard packaging are distributed across various industries, including the chemicals, food and beverage, pharmaceuticals and healthcare, and other industries. Paperboard products are preferred because of the non-reactive nature of paper, and paperboard protects the products enclosed in it from getting damaged. Paper, timber, pulp, and other similar forest materials, which can be easily recycled, are used as basic raw materials in paper packaging. Paper and paperboard packaging materials are also used for blocking, bracing, cushioning, and preserving products.

Real-time locating systems (RTLS) and radio-frequency identification (RFID) tags help in increasing the efficiency and reducing the operational cost of enterprises,including small and medium-sized enterprises (SMEs).The opportunity in the RTLS market has led to increased number of RTLS vendors.This, in turn, leads to a reduction in the price of RFID tags, which enable increased adoption of RTLS solutions among SMEs.Transportation and logistics is one of the major sectors that contribute to the highest proportion of revenue to the global RTLS market.Increased use of RTLS for asset tracking in the transportation and logistics sector is a major factor that has a significant impact on the growth of the market.This report covers the present scenario and growth prospects of global RTLS market inthe transportation and logistics sector for the period 2016-2020.

近两周，沪深 300 指数上涨 1.3%，HSCEI 指数下跌 1.9%，铁路板块上涨6.7%，港口板块上涨 5.8%，机场板块上涨 2.0%，公路板块上涨 1.5%，航运板块上涨 0.8%，航空板块上涨 0.7%，物流板块下跌 0.5%。 

上个交易周，上证综指上涨 1.99%，创业板指上涨 2.03%，申万交运板块上涨 3.14%。交运子板块全部上涨，其中港口领涨（7.65%），其他子板块涨跌幅分别为物流（ 3.30%）、铁路（ 3.08%）、航空（ 2.85%）、公交（2.35%）、机场（1.55%）、航运（0.93%）、公路（0.85%）。涨幅靠前公司为唐山港（33.0%）、天津港（31.8%）、长久物流（27.2%），跌幅靠前公司为宁波海运（-10.0%）、锦州港（-7.2%）、连云港（-4.8%）。

我们对运量与宏观经济指标的相关性做了分析，发现：铁路货运周转量与工业增加值增速和 GDP 相关性最强。上市公司车流量与GDP 增速相关，并可作为提前一个月的领先指标。航空货运量是出口贸易提前一个季度的领先指标。 

大秦铁路发布一季度业绩预告，预计一季度归母净利润近 30 亿元，同比增加 45%。另外，自 3 月 24 日起，大秦铁路所辖铁路运价恢复至基准运价。此次运价恢复主要受益于国内火电需求复苏，煤炭需求回暖。火电需求逐渐复苏，叠加煤炭库存处于历史低位也使得运量需求超预期。我们认为，运价恢复后预计增加 2017 年净利润 15.59 亿元。铁总换届后，铁路改革预期渐起。