} ?>
(Yicai Global) June 2 -- China’s logistics market rebounded rapidly last month as the most recent wave of Covid-19 outbreaks was increasingly brought under control.
China’s logistics prosperity index rallied by 5.5 percentage points to 49.3 percent in May from a month earlier, according to data released by the China Federation of Logistics and Purchasing today. In April, the index had slumped to an almost two-year low amid Shanghai's lockdown.
The gauge points to eastern China. The sector's business volume in eastern regions climbed nearly 10 percentage points to exceed 50 percent in May, driving up the broader recovery, according to the CFLP.
Delivery has become much more convenient as the implementation of security policies has been accelerated so business volumes have increased, according to the association. The rising volumes and the rebound in production and consumption are linked, strengthening one another, it added.
The logistics employee index was at 47.4 percent in May, up 1.9 percentage points from the previous month, indicating easing labor shortages. After the pandemic is further brought under control, the workforce will gradually recover to normal, the CFLP said.
The business activity expectation index logged 53.7 percent in May, up 1.8 percentage points from April, suggesting that logistics companies have bullish expectations. The reason behind the confidence is the gradual implementation of corporate support policies, according to the same source.
China has introduced several policies to speed up recovery in the sector. Those policies include exempting value-added tax on express delivery services from May 1, encouraging financial institutions to issue loans to enterprises engaged in transportation, logistics, and warehousing, as well as providing nucleic acid testing subsidies for logistics workers.
Editor: Emmi Laine, Xiao Yi