According to a joint survey conducted by the China Federation of Logistics and Purchasing and China Reserves Development Co., Ltd., the China Warehousing Index for October 2025 was 50.6%, up 1 percentage point from the previous month. From the perspective of sub indices, compared with the previous month, the business volume index, facility utilization index, ending inventory index, and average inventory turnover index have increased by 0.6 to 3.8 percentage points; The employee index and business activity expectation index of the enterprise have decreased by 0.4 and 3.4 percentage points respectively.

In October, the warehousing index returned to the expansion range of over 50%, indicating an increase in industry activity. The business volume has increased, the utilization rate of facilities has improved, and the inventory turnover efficiency has synchronously rebounded. Although the inventory level has still decreased, the decline has narrowed compared to the previous period, reflecting the recovery of market demand, smoother upstream and downstream connection of the supply chain, accelerated commodity circulation, and slightly increased willingness of enterprises to replenish inventory. In addition, both the employee index and business activity expectation index of the enterprise continue to be in the expansion range, indicating that the enterprise has good confidence in the future. Combined with the accelerated release of stable growth policies in the fourth quarter, investment and consumption related activities have maintained positive changes, and it is expected that the demand for warehousing business will still have room for recovery.

The business volume index was 52.7%, an increase of 2.2 percentage points from the previous month. By variety, the business volume index of chemical products, coal, agricultural and sideline products, cotton and linen and other varieties is higher than 50%, while the business volume index of steel, medicine and other varieties is lower than 50%. The facility utilization index was 51.6%, an increase of 0.6 percentage points from the previous month. In terms of varieties, the facility utilization index of non-ferrous metals, coal, machinery and equipment, agricultural and sideline products, cotton and linen and other varieties is higher than 50%, while the facility utilization index of steel, household appliances and other varieties is lower than 50%.

The ending inventory index was 49.4%, an increase of 1.5 percentage points from the previous month. By variety, the ending inventory index of steel, non-ferrous metals, coal and other varieties is higher than 50%, while the ending inventory index of chemical products, food, household appliances and other varieties is lower than 50%. The average inventory turnover index was 51.2%, an increase of 3.8 percentage points from the previous month. By variety, the average inventory turnover index of coal, daily necessities, household appliances and other varieties is higher than 50%, while the average inventory turnover index of steel, non-ferrous metals and other varieties is lower than 50%. The employee index of the enterprise was 51.6%, a decrease of 0.4 percentage points from last month. The expected index of business activities is 51.1%, a decrease of 3.4 percentage points from the previous month.