China's logistics sector's performance index down in March

A reading below 50 per cent indicates contraction while that above 50 per cent reflects expansion.

The sub-index for business cost increased to 60.4 per cent in March suggesting high cost of production for logistics companies. The sub-index for new orders was 49.4 per cent, down 0.8 percentage points compared to the previous month, Chinese media reports said quoting the CFLP.

Additionally, the e-commerce logistics sector also contracted by 4.9 points month-on-month to reach 104 points in March, according to a joint industry survey conducted by JD.com and CFLP. This is the lowest score in two years.

The sub-index for business costs for the e-commerce logistics sector increased by 5.5 points in March, while the sub-index for business volume decreased by 9.7 points month-on-month to reach 118.2 points, according to the survey.

ALCHEMPro News Desk (KD)