Economy continues recovery as indicators on upswing

China's economy continues to recover, with some economic indices showing steady growth.

As consumer spending picked up steadily and the efficiency of economic operation has been improved, the country's logistics business expanded significantly in March with the total business index rebounding to its best level since last year.

The index tracking the country's logistics market performance stood at 55.5 percent in March, up 5.4 percentage points from February according to the China Federation of Logistics and Purchasing.

E-commerce logistics is maintaining upward trend as the demand side saw a strong recovery.

The index tracking e-commerce logistics activities reached 108.3 points in March, up 1.1 points from the previous month according to a survey jointly conducted by the China Federation of Logistics and Purchasing and e-commerce giant JD.com.

Reports from the People's Bank of China showed greater enthusiasm for the country's economic development among enterprises and increased confidence among bankers, with the macroeconomic heat index of enterprises and bankers reaching 33.8 and 40.2 percent in the first quarter of this year, up 10.3 and 22.8 percentage points from the previous quarter, respectively.

As construction and manufacturing have restarted gradually, and building materials production has accelerated, the building materials industry business index recovered significantly in March, the China Building Materials Federation said.

The market penetration index, a gauge of trends in the building materials industry, surged to 138.6 points in March from 87.3 last month.

The country's service sector activity was also up, with the Caixin China General Services Purchasing Managers' Index at 57.8 in March, reaching a 28-month high and building on three months of consecutive expansion.