China's logistics sector sustains steady growth in August

BEIJING, Sept. 2 (Xinhua) -- China's logistics sector continued steady expansion in August thanks to growing logistics demand, an industry report showed Monday.

The index tracking the country's logistics market stood at 51.5 percent in August, up 0.5 percentage points from the previous month, according to the China Federation of Logistics and Purchasing.

The warehousing index gained 3.7 percentage points compared with the July figure, reaching 50.2 percent in August, data from the federation revealed.

With the gradual implementation of various policies to promote investment and stabilize growth, activities in both the upstream and downstream of the country's supply and industrial chains deepened integration, driving up the total business volume index, said He Hui, chief economist at the federation.

Breaking down the data, the total business volume index rose 0.5 percentage points from July to 51.5 percent in August, while the index for new orders stood at 51.8 percent. The business expectations index came in at 56.3 percent in August -- up 1.7 percentage points from the July reading.