China manufacturing growth speeds up

A textile factory in China's Jiangsu province

The manufacturing sector has been a key driver of China’s economic growth. 

China’s manufacturing activity grew at its fastest pace for six months in June, suggesting that recent stimulus moves have started to have an impact.

The official purchasing managers’ index (PMI) rose to 51, from 50.8 in May.

The PMI is a key indicator of the sector’s health and a reading above 50 shows expansion.

China, the world’s second-largest economy, has taken various steps in recent months – including cutting taxes for small firms – to help boost growth.

Last month, China’s central bank said it will cut the reserve requirement ratio (RRR) – the amount of cash banks needs to keep in reserve – for banks engaged in lending to agriculture-related businesses and small companies.

China’s central bank, the People’s Bank of China, said it would also encourage banks to lend more to exporters to boost shipments.

In April, the government said it will cut taxes on small firms and speed up the construction of railway lines across the country.

The government has also announced plans to build railways, roads and airports along the Yangtze River – which connects China’s less developed inland provinces to Shanghai.

China’s economy expanded at an annual rate of 7.4% in the January to March period, from a year ago, down from 7.7% growth in the final quarter of last year.

 

 

 

 

 

Source : BBC News | July 1, 2014

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About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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