China's logistics industry growth slows in January

BEIJING - China's logistics sector grew at a slower pace in January compared with a month earlier, according to the China Federation of Logistics and Purchasing (CFLP).

The logistics performance index (LPI) for January stood at 51.5 percent, down 0.9 percentage points from December 2013, the CFLP said in a statement on Friday.

A reading above 50 percent indicates expansion from the previous month, while a reading below indicates contraction.

He Hui, deputy director of the China Logistics Information Center, attributed the decline to the influence of the Spring Festival, but also stressed the sector was  stable, as the index is above the threshold of 50 percent.

The federation began collecting LPI data from more than 300 logistics companies in December 2011. Since then, the index has stayed above 50 percent.