This aerial photo taken on July 5, 2023 shows warehouses at Dagang branch of Central Grain Reserve Tianjin Dongli Direct Warehouse Co., Ltd. in north China's Tianjin, July 5, 2023. (Xinhua/Sun Fanyue)
BEIJING, July 9 (Xinhua) -- China's warehouse storage sector expanded at a slower pace in June, 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 50.7 percent last month, down 0.6 percentage points from May, the survey showed.
A reading above 50 percent indicates expansion, while a reading below 50 percent reflects contraction.
Driven by e-commerce sales promotion activities, the warehouse sector was brisk in June, said Wang Yong, vice president of CMST Development.
The survey shows that companies in the sector are upbeat about future market prospects, Wang added.
With supporting policies such as tax and fee cuts, as well as improving business policies, the sector is predicted to gradually resume stable and sound operation this year with the stable recovery of the macroeconomy, according to analysts.
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