Briefly

Warehouse storage sector rebounds in July

The warehouse storage sector continued to gain traction in July amid gradual recovery in market demand, industry data showed. An index tracking the sector's development rose by 2.8 percentage points on a monthly basis to 53.5 percent last month, according to the China Federation of Logistics and Purchasing. A reading above 50 percent indicates expansion, while one below that reflects contraction. The index has stayed above the boom-or-bust line for five consecutive months.

Textile companies see lower revenues in H1

China's major textile companies reported lower revenue and profits during the first six months of this year, official data showed. Revenue of major textile companies shrank 16.4 percent year-on-year to 1.93 trillion yuan ($278.07 billion) from January to June, according to data released by the Ministry of Industry and Information Technology. Profits of these companies dropped 19 percent from a year earlier to 73.1 billion yuan.

Xinhua