China's logistics sector maintains expansion in July

Source: Xinhua| 2020-08-03 20:27:32|Editor: huaxia

Staff members sort parcels at a sorting center of EMS (Express Mail Service) in Shenyang, northeast China's Liaoning Province, March 10, 2020. (Xinhua/Yang Qing)

BEIJING, Aug. 3 (Xinhua) -- China's logistics sector sustained steady expansion in July, data from the China Federation of Logistics and Purchasing showed on Monday.

The logistics performance index, which tracks business volumes, new orders, employment, inventory turnover, and equipment utility rates in the sector, came in at 50.9 percent in July, down by 4 percentage points month on month.

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

Attributing the drop to seasonal factors, He Hui, director of the China Logistics Information Center, said growth momentum of express delivery businesses, boosted by online consumption, remained strong.

The sub-indexes for new orders and expectations for business activities were both running above the boom-bust line, signaling enterprises' optimistic outlook for future developments, according to He.