China's warehouse storage sector logs robust rebound in March

BEIJING, May 6 (Xinhua) -- China's warehouse storage industry registered a strong rebound in March, boosted by the overall growth of the economy after the Chinese New Year holiday, industry data showed.

The index tracking the sector's development came in at 52.6 percent, soaring 8.1 percentage points month on month, according to a survey released jointly 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.

Major sub-indices of the sector all recorded steady growth in the period, with those measuring new orders and business profits jumping 11.2 percentage points and 11 percentage points month on month, respectively.

The survey projects the sector to continue sound performance in the next stage, noting that a new round of large-scale equipment renewal and consumer goods trade-in will support demand growth.