China's logistics sector returns to expansion in May

BEIJING, June 3 (Xinhua) -- China's logistics sector returned to expansion in May, the China Federation of Logistics and Purchasing said Wednesday.

The index tracking the country's logistics market -- an indicator of economic vitality -- stood at 50.3 percent in May, up 0.6 percentage points from the previous month.

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

"In May, industrial logistics demand accelerated, while consumer-related logistics demand maintained steady expansion," said Liu Yuhang, director of the China Logistics Information Center.

All sub-indexes posted increases last month. The total business volume sub-index came in at 50.3 percent, rising 0.6 percentage points from the previous month. The new orders sub-index rose for three consecutive months to reach 50.2 percent in May. The fixed-asset investment completion sub-index stood at 54.1 percent, up 0.4 percentage points from April.

Market expectations stayed optimistic, with the business activity expectation sub-index at 55.9 percent, according to the federation.