This aerial photo taken on April 17, 2023 shows a capsule-shaped bulk cargo warehouse at Chenglingji Port in Yueyang, central China's Hunan Province.(Xinhua/Chen Zeguo)
BEIJING, Sept. 11 (Xinhua) -- The index tracking the development of China's bulk commodity market edged up in August driven by strengthened policy support and growing confidence in market demand, industry data showed.
The China Bulk Merchandise Index stood at 102.7 percent last month, up 0.4 percentage points compared with that registered in July, according to the China Federation of Logistics and Purchasing.
A reading above 100 indicates expansion, while a reading below 100 reflects contraction.
The sub-index for bulk commodity supply rose 0.8 percentage points from the previous month, bucking the trend of contraction. This indicates manufacturers' optimistic outlook for the market, according to the federation.
It also highlighted the strengthening market demand, noting a month-on-month increase of 0.1 percentage point in the sub-index for bulk freight sales.
China's bulk commodity market is expected to further improve in September, with the support of a series of macro policies and the onset of the construction peak season, according to the federation.
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