BEIJING - Parcel-delivery companies are expected to carry over 5 billion packages in January, up 11 percent year on year, according to a report from the State Post Bureau.

The growth marks a slowdown from previous months, as the upcoming Spring Festival will reduce business volumes, the report said.

About 74 billion parcels are likely to be handled in 2020, up some 18 percent from 2019, while total business revenue might grow 16 percent year on year to 866 billion yuan ($267.5 billion), the bureau said earlier this month.

China saw about 63 billion express parcels handled in 2019, up 24 percent year on year. Business revenue expanded 23 percent to stand at about 745 billion yuan.

The bureau predicted that the business revenue of the country's postal services would rise 15 percent year on year in 2020.

The country has remained the world's largest express delivery market for six consecutive years, with some 20,000 express delivery enterprises and more than 3 million employees.

The upcoming holiday for the Spring Festival, a traditional festival for family reunions for people of Chinese origin, will run from Jan 24 to 30.