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 senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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