China's convenience stores upbeat about growth prospects
BEIJING — China's convenience stores were more confident about their prospects in the second quarter of the year, a business index showed Thursday.
The headline index for the sector stood at 73.95 in Q2, up from 72.22 in Q1, according to a report from the Ministry of Commerce.
A reading above 50 indicates expansion, while a reading below 50 represents contraction.
"Both managers and operators in the sector were optimistic toward the sustainable development of convenience stores," it added.
Their positive attitude was built on growth of the sector in 2016, when the number of convenience stores rose 9 percent and their combined sales rose 13 percent.
The improvement also came amid the steady economic growth in China. The economy expanded 6.9 percent in Q2, flat from the previous quarter.
