China's logistics sector reports contraction in April
China's logistics sector was less upbeat in April amid the domestic resurgence of COVID-19, data from the China Federation of Logistics and Purchasing (CFLP) showed.
The logistics performance index, which tracks business volume, new orders, employment, inventory turnovers and equipment utility rates in the sector, came in at 43.8 percent in April, down 4.9 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, said that the short-term effects, however, will gradually weaken with the implementation of epidemic control measures and policies to facilitate logistics.
He noted that China's resilient industrial and supply chains, as well as its vast market, will support the recovery of the logistics sector.