{"id":9574,"date":"2020-10-07T15:17:48","date_gmt":"2020-10-07T08:17:48","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=9574"},"modified":"2021-06-04T15:43:34","modified_gmt":"2021-06-04T08:43:34","slug":"expansion-of-manufacturing-industry-in-china-indicates-strong-economic-recovery","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/expansion-of-manufacturing-industry-in-china-indicates-strong-economic-recovery\/","title":{"rendered":"Expansion of manufacturing industry in China indicates strong economic recovery"},"content":{"rendered":"

New data revealed that the growth <\/span><\/span>in the manufacturing sector\u00a0<\/span><\/span>surpassed earlier\u00a0<\/span><\/span>predictions<\/span><\/span>\u00a0<\/span><\/p>\n

\"\"
ABB intelligent robots producing glass fibres for export to the United States in a workshop of a modern company in eastern China. humphery\/Shutterstock<\/figcaption><\/figure>\n

Based on the\u00a0<\/span>monthly surveys\u00a0conducted\u00a0<\/span>separately<\/span>\u00a0by the National Bureau of<\/span>\u00a0Statistics (NBS)<\/span>\u00a0and Caixin\/Markit,\u00a0<\/span>activity in the manufacturing industry\u00a0<\/span>indicated\u00a0<\/span>a<\/span>\u00a0much healthier recovery compared to previous forecasts<\/span>, reported financial services site\u00a0<\/span>ShareCafe<\/span><\/a>.<\/span>\u00a0<\/span><\/p>\n

The NBS data on the manufacturing purchasing managers index grew to 51.5 in September,\u00a0<\/span>surpassing predictions and the 51.0 reading last August.<\/span>\u00a0<\/span><\/p>\n

As for the survey by Caixin\/Markit, the index surged to 53 in September, which is\u00a0<\/span>similar to<\/span>\u00a0the August reading.<\/span>\u00a0<\/span><\/p>\n

More:<\/b>\u00a0Retail sales in China thrive for first time in 2020, further boosting its already-growing economy<\/strong><\/span><\/a><\/p>\n

On the other hand, the service sector has also seen much improvement in September\u00a0<\/span>as the recurring concerns over COVID-19 and weak consumer spending\u00a0<\/span>ended in summer.<\/span>\u00a0<\/span><\/p>\n

The official non-manufacturing PMI of China<\/span>,<\/span>\u00a0<\/span>cover<\/span>ing<\/span>\u00a0<\/span>both service and\u00a0<\/span>construction sectors<\/span>,<\/span>\u00a0rose to 55.9 in September,<\/span>\u00a0a jump from the 55.2 reading a month before and is<\/span>\u00a0<\/span>the highest recorded since November 2013<\/span>.<\/span>\u00a0<\/span><\/p>\n

Both these surveys\u00a0<\/span>indicate grow<\/span>ing demand from markets<\/span>\u00a0overseas<\/span>.\u00a0<\/span>For the first time in 2020, t<\/span>he of<\/span>ficial expo<\/span>rt-order subindex\u00a0<\/span>soared<\/span>\u00a0into the expansionary territory, whilst the survey from Caixin revealed that export orders reached a three-year high.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

New data revealed that the growth in the manufacturing sector\u00a0surpassed earlier\u00a0predictions\u00a0<\/p>\n","protected":false},"author":9,"featured_media":20764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[137,464,951],"class_list":["post-9574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-china","tag-economy","tag-manufacturing","news_country-china","news_author-property-report"],"acf":[],"yoast_head":"\nExpansion of manufacturing industry in China indicates strong economic recovery | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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