China's warehouse storage sector maintains expansion for 10 straight months

BEIJING, Dec. 10 (Xinhua) -- China's warehouse storage industry registered sound performance in November, remaining in the expansion zone for the 10th consecutive month, industry data showed.

The index tracking the sector's development stood at 52.2 percent last month, up 1.3 percentage points from October, 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 one below 50 percent reflects contraction.

All the major sub-indices of the sector stayed in the expansion zone in November. Specifically, the figure measuring new orders came in at 53 percent, up 3.3 percentage points from one month earlier and returning to the expansion zone, which marks demand recovery in the market.

According to the survey, the sub-index for business profits also rose 2 percentage points from the previous month and rebounded to the expansion zone, indicating improving performance of the sector.

Enterprises maintained a sound outlook for the market, with the reading for business expectations hitting 55.2 percent last month, the survey noted, forecasting the warehouse storage industry to keep steady and sound growth in the future.