Warehouse storage sector rebounds in May

0 Comment(s)Print E-mail Xinhua, June 5, 2022
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An employee works at the warehouse of a paper-making company in Anshan, Liaoning province. [Photo/Xinhua]

China's warehouse storage sector expanded in May, according to a survey jointly released by the China Federation of Logistics and Purchasing and CMST Development Co., Ltd.

The index tracking the sector's development rose 3.7 percentage points from April to 50.2%, putting it back in the expansion range, the survey showed.

A reading above 50% indicates expansion, while one below 50% reflects contraction.

The sector rebounded in May amid faster implementation of pro-growth policies and production resumption in virus-hit areas, said Wang Yong of CMST Development, adding that the weaker recovery of demand compared to that of supply has led to some products being stockpiled.

The sub-index for business volume stood at 53%, up 10.4 percentage points from a month earlier, indicating warming demand as COVID-19 impact tapers off, according to the survey.

It predicted stable growth for the sector in the near future, given that the sub-readings for new orders and for enterprises' expectations of business activities both stood in the expansion zone.

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