China's warehouse storage sector logs steady growth in April

This aerial photo taken on April 17, 2023 shows a capsule-shaped bulk cargo warehouse at Chenglingji Port in Yueyang, central China's Hunan Province. (Xinhua/Chen Zeguo)

BEIJING, May 7 (Xinhua) -- China's warehouse storage activities further consolidated the trend of expansion in April, industry data shows.

The index tracking the sector's development stood at 53.7 percent last month, up 3.5 percentage points from March, according to a survey jointly released by the China Federation of Logistics and Purchasing and CMST Development Co., Ltd.

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

The index has stayed in the expansion zone for three consecutive months, indicating a strong recovery of the sector, said Wang Yong, vice president of CMST Development.

The growth of major sub-indices of the sector suggests sound business operations, improved efficiency of goods turnover, and active stocking of enterprises.

Wang noted that the confidence of enterprises will continue to rise in the future, and the sector will maintain steady and sound performance, supported by sustained momentum of investment and accelerated recovery of offline consumption.