China: China's warehousing index for April is 51%

The China Warehousing Index, jointly investigated by the China Federation of Logistics and Purchasing and China Merchants Development Co., Ltd., stood at 51% in April 2026, a decrease of 0.4 percentage points from the previous month. Looking at the sub-indexes, compared to the previous month, the average inventory turnover index and main operating cost index increased by 0.1 and 4.6 percentage points, respectively; while the new order index, facility utilization index, fee price index, business profit index, end-of-period inventory index, and business activity expectation index decreased by between 0.5 and 1.9 percentage points. Yang Biao, Deputy General Manager of China Merchants Development Co., Ltd., believes that although the Warehousing Index in April fell compared to the previous month, it has remained in the expansion zone for two consecutive months, demonstrating a stable and positive trend in the warehousing industry. The new order index, facility utilization index, and end-of-period inventory index all remained in expansion, with the average inventory turnover index maintaining a relatively high level of prosperity, indicating steady growth in warehousing business demand, good turnover efficiency of goods, and smooth supply chain connections. The business activity expectation index was at 55.1%, still at a high level, reflecting optimistic expectations of enterprises. Overall, the warehousing industry in April operated steadily, with market vitality continuing to be released, achieving a good start to the second quarter. The new order index was 51.5%, a decrease of 1.9 percentage points from the previous month. In terms of different categories, the new order indexes of chemical products, coal, food, medicine, and other products were above 50%, while the indexes for steel, non-ferrous metals, and other products were below 50%. The facility utilization index was 52%, a decrease of 1.9 percentage points from the previous month. In terms of different categories, the facility utilization indexes of chemical products, coal, agricultural products, and other products exceeded 50%, while those for non-ferrous metals, daily necessities, medicine, and other products were below 50%. The end-of-period inventory index was 51.1%, a decrease of 0.5 percentage points from the previous month. In terms of different categories, the end-of-period inventory indexes of chemical products, food, agricultural products, and other products were above 50%, while those for mineral products, daily necessities, medicine, and other products were below 50%. The average inventory turnover index was 52.8%, an increase of 0.1 percentage points from the previous month. In terms of different categories, the average inventory turnover indexes of steel, coal, daily necessities, agricultural products, and other products were above 50%, while those for non-ferrous metals, building materials, and other products were below 50%. The fee price index was 48.5%, a decrease of 1 percentage point from the previous month; the business profit index was 48.5%, a decrease of 0.5 percentage points from the previous month; the main operating cost index was 56.1%, an increase of 4.6 percentage points from the previous month; the business activity expectation index was 55.1%, a decrease of 1.2 percentage points from the previous month.