The figures for July were promising. According to the National Bureau of Statistics; the official Purchasing Managers Index (PMI), which measures activity in bigger factories and is a key to measure sector’s health rose to 51.7 in July from 51 in June. The rise in figures meant an increase in the expansion.
The improvement and growth in the manufacturing sector is a direct result of a series of steps taken bởi China in the gần đây months to help boost its economic growth.
The HSBC PMI survey, which measures manufacturing activity in relatively smaller factories, gave a preliminary đọc of 52 for July, which was an 18 tháng high.
China’s growth stabilizing:
China, which is also the world’s một giây largest economy, has recently witnessed a series of positive economic data along with the rise in PMI.
In June, link witnessed a 7.5% rise in the April to June quarter, from a năm ago.
Other data also points to the positive developments taking place, with factory output, fixed asset investment and retail sales hiển thị an increase in the gần đây weeks.
The positive outlook of China’s economy has encouraged policymakers to take steps to help further boost China’s growth.
Planning to cut taxes on smaller companies and speeding up the construction of railway lines across China are part of a series of steps taken bởi policymakers.
Other steps include China’s central bank making thêm cash available for banks engaged in lending to agriculture related businesses and smaller companies.
Furthermore, the central bank has also đã đưa ý kiến that it will encourage banks to lend thêm to exporters in order to boost shipments.
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