China's warehouse storage sector expands in February

BEIJING, March 6 (Xinhua) -- China's warehouse storage sector reported expansion in February, 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 rose 3 percentage points from January to 51.3 percent, returning to the expansion range, the survey showed.

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

The sector's performance in February was significantly better than the same period in recent years, indicating that the pressure of the sector has eased and market demand has remained relatively good, said Wang Yong, of CMST Development.

The sub-index indicating enterprises' expectations for business activities stood at 63.1 percent, up 9.7 percentage points from a month earlier, reaching a record high in four years, according to the survey.

It predicted stable growth of the sector in the near future, stating that demand will increase in March and April, driven by the resumption of production and operation activities.