China's logistics sector rebounds in May
A warehouse in Lianyungang, Jiangsu Province, is seen in May 2022.
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 difficulties, 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.
