Abu dhabi: China's logistics sector expanded in business scale in August, as policies to promote domestic consumption, stabilize investment, and safeguard people's livelihood continue to produce positive effects, and the synergy of supply and industrial chains accelerated, state broadcaster CCTV reported, citing industry data.
According to Emirates News Agency, the index tracking the logistics market activity came in at 50.9 in August, climbing 0.4 points compared with the reading in the previous month. The total business volume index and new order index continued to expand, as reported by data released by the China Federation of Logistics and Purchasing (CFLP).
The total business volume index has remained in the expansion territory for six consecutive months this year, while the new order index has been expansive for the seventh straight month. In August, the new order index in railway transportation, air transportation, and portal express maintained above 55, while multimodal transportation and waterway transportation sectors saw their new orders surge month-on-month, according to the CFLP.
Logistics serves as the "meridian" of the real economy. The continuous improvement in the supply and demand conditions in logistics reflects that the foundation for the overall recovery and improvement of the real economy has been further strengthened, He Hui, chief economist of the CFLP, told the Global Times.
From an investment perspective, the fixed-asset investment completion index remained in the expansion zone in August, with investment continuing to show sustained growth momentum.