According to CoinMeta, data released by the China Federation of Logistics and Purchasing in October showed that China's warehousing index was 49.8%, up 0.1 percentage points from the previous month. Although the index has slightly rebounded from its low level, it has still been operating in a contraction range for three consecutive months. The demand base still needs to be consolidated, and the level of prosperity continues to hover near the boom-bust line.