China's road logistics price index up in August

BEIJING - China's road logistics price index went up 3 percent in August from a year ago as the country's economy maintained recovery momentum and market demand rebounded, industry data shows.

The index came in at 103 last month, edging down 0.16 percent on a monthly basis, according to a survey jointly conducted by the China Federation of Logistics and Purchasing and the Guangdong Lin'an Logistics Group.

The sub-index for full truckload logistics prices, which mainly measures bulk commodity and regional transportation, stood at 103.1 during the period, rising 2.6 percent year-on-year.

The survey attributed the road logistics price index rise to macro policies that continue to stabilize growth, expand domestic demand and support enterprises in overcoming difficulties.

As the market environment and business confidence improve, the price index will likely stabilize or go up, said the survey.

China's road logistics price index is based on the average price in the last week of December 2012, with the monthly index starting point at 100.