China records drop in bulk commodity price index

The index tracking China’s bulk commodity prices has fallen over the past month. In February, the rate stood at 111.4, falling 0.7% month-on-month, according to the China Federation of Logistics and Purchasing.

The industry attributed the price drop to decreased demand during the Chinese New Year holiday. This year, the date was celebrated on February 10th.

For the federation, the scenario is a reflection of the government’s countercyclical adjustment policies. With the measure, companies’ production is becoming increasingly active after the holiday. The organization maintains positive expectations for the price index in the next stage.

With information from Xinhua