China's logistics sector maintains expansion in October

Employees work at an express distribution center of the delivery company SF Express in Haikou, south China's Hainan Province, Nov. 8, 2020. China's logistics sector sustained steady expansion in October as broader economic recovery consolidates, data from the China Federation of Logistics and Purchasing showed. Express delivery firms are estimated to handle a daily average of 490 million parcels from Nov. 11, known as the Singles' Day, to Nov. 16, much higher than the normal business volume. (Xinhua/Pu Xiaoxu)

BEIJING, Nov. 8 (Xinhua) -- China's logistics sector sustained steady expansion in October as broader economic recovery consolidates, data from the China Federation of Logistics and Purchasing showed.

The logistics performance index, which tracks business volumes, new orders, employment, inventory turnover and equipment utility rates in the sector, came in at 56.3 percent last month, up 0.2 percentage points from September.

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

A total of 12 sub-indexes were in the expansion territory. The sub-index for inventory went up 2 percentage points to 52.8 percent, indicating robust storage businesses ahead of the promotion season of e-commerce platforms.

China's courier sector is expected to see surging parcel deliveries during the country's annual online shopping bonanza in mid-November, according to the State Post Bureau.

Express delivery firms are estimated to handle a daily average of 490 million parcels from Nov. 11, known as the Singles' Day, to Nov. 16, much higher than the normal business volume.