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China's logistics sector rebounds in May
CGTN
A warehouse at a logistics company in Hefei, Anhui Province, China, May 5, 2022. /CFP

A warehouse at a logistics company in Hefei, Anhui Province, China, May 5, 2022. /CFP

China's logistics sector registered a recovery in May as supportive policies were in place, according to the China Federation of Logistics and Purchasing (CFLP).

The logistics performance index, which tracks business volume, new orders, employment, inventory turnovers and equipment utility rates in the sector, came in at 49.3 percent last month, up 5.5 percentage points from the previous month.

A reading above 50 percent indicates expansion while a reading below 50 reflects contraction.

He Hui, assistant president of the CFLP, attributed the improved performance to the country's measures to unclog the logistics and prop up businesses in difficulty, saying that both the supply and demand sides of the sector fared better.

The sub-index for new orders came in at 48.8 percent, up 4.4 percentage points from a month ago. The sub-index for business expectation rose 1.8 percentage points from the previous month to 53.7 percent, indicating logistics firms' upbeat outlook on the prospect of the sector, according to the federation.

With the easing of the epidemic in May, the China Express Development Index (CEDI) stood at 269.2 in May, 11.6 percent up from April, the State Post Bureau said.

Compared with data in April, the express volume in May was estimated at 20.6 percent higher and the express revenue was up 20.1 percent, according to the official data.

Source(s): Xinhua News Agency

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