// IP Marketing video - START// IP Marketing video - END

Chinese manufacturing rises to highest level in over two years

Chinese manufacturing rises to highest level in over two years

PanARMENIAN.Net - Chinese manufacturing rose to the highest level in more than two years in July in the latest sign that the world's No. 2 economy is perking up after a series of mini-stimulus measures unleashed by authorities, the Associated Press reports.

The purchasing managers' index compiled by the China Federation of Logistics and Purchasing rose to 51.7 last month from June's 51.0 and is at the highest level since April 2012.

A separate PMI by HSBC, also released Friday, Aug 1, was revised down to 51.7 from its preliminary reading of 52, but still the strongest rate of improvement in a year and half, according to the AP.

Both indexes are based on a 100-point scale on which numbers below 50 indicate contraction.

The surveys of China's massive manufacturing industry indicate that the revival in the broader economy is continuing after growth ticked up to 7.5 percent in the April-June quarter.

Communist leaders in Beijing have rolled out small-scale stimulus in the first half of the year after growth slowed to 7.4 percent in the first quarter, as they try to keep China's economy on track to meet their full-year growth target of 7.5 percent.

The task is complicated by their efforts to steer China's economy to growth based on domestic consumption rather than the trade and investment that have powered its factories.

"The economy is improving sequentially and registered across the board improvement compared to June," HSBC's chief China economist Qu Hongbin said. Policy makers have continued with targeted measures in recent weeks and the cumulative impact will filter through in the next few months and help "consolidate the recovery."

 Top stories
He said that his government would also focus on fighting corruption and "eliminating all barriers that impede business from developing".
“We have a simple problem:we prepare 400-500 specialists each year, while there is demand for 2000 professionals," he said.
At Shirak airport in the northern Armenian town of Gyumri, traffic soared by 150% in the reporting period against 2016.
“The investments will be spent to build a canning factory and slaughterhouses, expand greenhouse farms,” Ignati Arakelyan said.
Partner news