A staff member works at a warehouse in Qingdao, east China's Shandong Province, Jan. 28, 2023. (Photo by Liu Qiang/Xinhua)
BEIJING, April 5 (Xinhua) -- China's warehouse storage sector expanded at a slower pace in March, according to a survey jointly released by the China Federation of Logistics and Purchasing and CMST Development Co., Ltd.
The index tracking the sector's development stood at 50.2 percent last month, down 6.1 percentage points from February, the survey showed.
A reading above 50 percent indicates expansion, while a reading below 50 percent reflects contraction.
The index continued expansion in March, though at a slower pace due to a high base in February, suggesting steady recovery of the sector, said Wang Yong, vice president of CMST Development.
The survey showed that companies in the sector are upbeat about future market prospects, and the sector is predicted to gradually resume stable and sound operation this year, Wang said.
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