China's warehouse storage sector continues recovery in July

BEIJING, Aug. 7 (Xinhua) -- China's warehouse storage sector continued to rebound in July, 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 53.1 percent in July, continuing to stay in the expansion range, the survey showed.

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

The sector reported an improving business performance, with the sub-index tracking business profits reaching a new high in a year.

The survey also predicted a steady growth of the sector in the future as policies to stabilize economic growth will further boost demand and supply.