Recent data released by the National Bureau of Statistics and the China Federation of Logistics & Purchasing shows that May's Purchasing Managers Index (PMI) in the manufacturing sector in the Chinese mainland improved to 49.5, a 0.5-point increase from April. Although the index remains below 50, this upward trend highlights emerging resilience in a volatile global economy.
The non-manufacturing business activity index held steady in expansion territory at 50.3, while the composite PMI output index climbed to 50.4, signaling overall economic growth. 🚀
Behind these shifts are robust pro-growth policies. Measures like the CPC Central Committee's call for stronger counter-cyclical adjustments, combined with the People's Bank of China cutting interest rates and reserve requirements, have notably boosted confidence. Improved external conditions, including a thaw in trade disputes with the US, have further propelled this rebound.
Key sectors such as equipment manufacturing, high-tech production, and consumer goods continue to perform strongly, underscoring a stabilization of demand. Both large and small enterprises are witnessing improvements in production and future market expectations, confirming that the Chinese mainland is steadily navigating global uncertainties.
Stay tuned for more updates as these economic trends continue to shape our interconnected world! 🌎
Reference(s):
May PMI: A glimpse into China's economic resilience and challenges
cgtn.com
