www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Economy

Rays of hope for manufacturing

By Chen Jia (China Daily) Updated: 2012-10-25 09:11

Gradual uptick in new orders drives leading index to three-month high

China's manufacturing sector may start to see light at the end of the tunnel in October, thanks to a gradual uptick in new orders, strengthening market expectations of accelerated growth in the fourth quarter, HSBC said on Wednesday.

Rays of hope for manufacturing

Workers on an assembly line in an electrical appliances plant in Hangzhou, Zhejiang province. An increase in orders has helped drive the China manufacturing purchasing managers' index to its highest point in three months, according to a preliminary HSBC report. [Photo/China Daily] 

The HSBC preliminary manufacturing purchasing managers' index climbed to 49.1 in October, the highest level in three months, from a final reading of 47.9 September, the latest signal that economic growth may have started to rebound.

The leading economic indicator is considered a barometer of operational activities in the manufacturing industry. A reading of less than 50 means contraction, while more than 50 suggests expansion.

The October growth of HSBC's PMI was the fastest in two years, partly driven by a rapid rebound in new orders, with this sub-index reaching a six-month high, according to Qu Hongbin, HSBC's chief economist in China.

Another sub-index indicating output increased to a three-month high of 48.4 this month, from 47.3 in September. While this is still a contraction, it was at a slower pace, said HSBC.

Qu added: "This is helped by the filtering through of the earlier easing measures," confirming he considered the positive changes were the result of the government's stimulus measures, including injection of liquidity, acceleration of infrastructure construction and an expansion of fiscal expenditure.

"There are signals to show a recovery of domestic demand and business confidence," he added.

HSBC's survey was based on data compiled from monthly replies to questionnaires from more than 420 manufacturing companies. The preliminary reading is published a week before its final PMI data is released.

Qu added that in order to ensure that economic growth rebounds effectively, policies stressing fiscal spending and monetary easing should remain the order of the day.

Zheng Xinli, vice-chairman of the China Center for International Economic Exchanges, a top government think tank, said: "China's economic growth may speed up to 7.5 percent in the fourth quarter, which will lift the whole year's growth to 7.6 percent.

"A modest rebound in China's expansion is likely to continue next year," said Zheng, who is also a guest economist for China Daily.

"If we can take effective measures to fight against the slowdown risk, the process of getting economic growth back on track will be shortened."

Zheng called on the government to further boost infrastructure spending in sectors including railways, subways and public utilities.

A Ministry of Finance official told Xinhua News Agency on Tuesday that the government's proactive fiscal policy will continue to stabilize growth, based on the implementation of existing support measures.

The official added that the government would continue to increase spending on education, healthcare, social security, employment and affordable housing.

The growth of fiscal spending has played an important role in the government's efforts to stabilize economic growth since May.

In the first nine months, the central government's investment budget for infrastructure construction reached 390.5 billion yuan ($62 billion), accounting for 97 percent of the whole year's budget, which was 8 percentage points higher than the investment during the same period last year, according to the ministry.

The ministry official added that the central government's spending on affordable housing reached 233 billion yuan, 61.7 billion yuan more than its total investment in this field in 2011. This part of spending increased 34.1 percent year-on-year in the first nine months.

China's benchmark Shanghai Composite Index climbed to 2115.99 points at the close on Wednesday, a rise of 0.07 percent on the previous day's close.

This tracker of the country's biggest companies has dropped 3.79 percent so far this year amid the sluggish economic environment.

Liu Kegu, former vice-president of China Development Bank, said the speed at which China's economic growth rebounds is also influenced by the global economic situation.

As Europe and the United States may continue to have difficulties in boosting their economic growth, the recovery in China's economic growth is likely to remain modest, Liu said.

chenjia1@chinadaily.com.cn

Rays of hope for manufacturing

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 亚洲欧美午夜 | 国内精品久久久久影院免费 | 青青草国产免费一区二区 | 中文字幕久久亚洲一区 | 欧美激情精品久久久久久久久久 | 岛国在线免费观看 | 国产精品福利社 | 在线免费视频国产 | 99re6热视频精品免费观看 | 日韩在线中文字幕 | 99国产在线 | 免费一级欧美大片久久网 | 免费国产不卡午夜福在线观看 | 国产成人盗摄精品 | 国产成人mv 在线播放 | 久久99亚洲精品久久久久 | a免费视频 | 国产精品免费一级在线观看 | 国产三级日产三级日本三级 | 美国的毛片免费的 | 国产精品久久久久久久久久久久久久 | 免费一级毛片正在播放 | 97干干干| 手机看片国产免费 | 亚洲综合一区二区三区 | 国产男女免费视频 | 三级视频在线观看 | 国产午夜精品久久久久免费视 | 久久99精品九九九久久婷婷 | 亚洲国产成人久久综合一区77 | 天堂在线亚洲 | 国产精品免费视频一区 | 国产日韩欧美在线观看不卡 | 欧美日韩在线观看一区 | 91av综合 | 久久两性视频 | 中文字幕日韩精品中文区 | 久久在线视频免费观看 | 99九九成人免费视频精品 | 三级网站免费看 | 亚洲国产成人99精品激情在线 |