CHINA'S WAREHOUSE STORAGE SECTOR EXPANDS IN FEBRUARY

China's warehouse storage sector reported expansion in February, state media reported, citing a survey jointly released by the China Federation of Logistics and Purchasing and CMST Development Co., Ltd.

 

In a report, Xinhua said the index tracking the sector's development saw a 3- percentage point rise from January to 51.3% in February.

 

It said a reading above 50% indicates expansion, while one below 50% means contraction.

 

The sector's performance in February was significantly better than the same period in recent years, indicating that the pressure of the sector has eased and market demand has remained relatively good, Xinhua said, quoting Wang Yong, of CMST Development.

 

The report said the sub-index indicating enterprises' expectations for business activities stood at 63.1%, up 9.7 percentage points from a month earlier, reaching a record high in four years.

 

It also predicted "stable growth" of the sector in the near future, stating that demand will increase in March and April, driven by the resumption of production and operation activities.