China’s manufacturing gathers pace

Comment on this story


Xiaoqing Pi Beijing

China’s manufacturing expanded at the fastest pace in five months in May, in a sign the government’s measures to counter an economic slowdown are gaining traction.

The purchasing managers’ index (PMI) rose to 50.8 last month, the National Bureau of Statistics and China Federation of Logistics and Purchasing said in Beijing yesterday, compared with the 50.7 median estimate of analysts. April’s reading was 50.4, with numbers above 50 indicating expansion.

The Communist Party has stepped up the pace of stimulus measures, including faster spending from government budgets and increased railway investment, to help meet an official economic growth target of about 7.5 percent this year.

Authorities are contending with a property market slump that threatens the economy while they try to sustain efforts to limit shadow banking, pollution and corruption.

“After a disappointing start this year, growth is being stabilised thanks to the government’s mini-stimulus,” Lu Ting, the head of greater China economics at Bank of America in Hong Kong, said.

At the same time, he said, the “below-51 PMI is still weak, and there are still strong headwinds due to the downturn of the property sector and the anti-corruption campaign”.

PMI estimates from 30 analysts ranged from 50.1 to 51.5.

A separate manufacturing PMI from HSBC Holdings and Markit Economics rose to a five-month high of 49.7 last month, based on a preliminary reading released on May 22. The final number is due tomorrow.

The government’s PMI is based on survey responses from purchasing executives at 3 000 companies, while the HSBC-Markit report comes from more than 420 firms.

The State Council, or cabinet, said on Friday that it would cut the reserve-requirement ratio for lenders that had extended a certain amount of loans to rural borrowers and smaller companies.

The People’s Bank of China would set up a relending facility for smaller companies and had set this year’s quota at 50 billion yuan (R86bn), state television reported on Saturday.

Most sub-indices in the official PMI rose last month. Output increased to a four-month high and the measure of new orders was at the highest since November last year. However, the employment gauge fell to 48.2 from 48.3, continuing to signal contraction.

China’s stimulus showed signs of helping companies other than the biggest ones, with a PMI for medium-sized enterprises rising to 51.4 from 50.3 in the data. That compared with 50.9 for large companies, up from April’s 50.8, and a 48.8 reading for small enterprises that was unchanged from the previous month.

Growth in industrial production, fixed-asset investment and retail sales from a year earlier unexpectedly decelerated in April.

A cooling property market threatens to limit any rebound, with a 22 percent drop in new building construction in the first four months of the year and last month’s drop in home prices from April that was the first in almost two years, according to SouFun Holdings, the nation’s biggest property website owner.

The second-largest economy is projected to grow 7.3 percent this year, which would be the weakest pace since 1990, according to an analysts’ survey last month.

Expansion slowed to 7.4 percent year on year in the first quarter, from 7.7 percent in the previous period.

The interbank market showed the central bank was easing monetary policy, Standard Chartered analysts said in a report last week. A daily fixing of the seven-day repurchase rate fell 0.93 percentage points last month to 3.25 percent. – Bloomberg


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks
optimistic_36
I'm a 37 year old woman looking to meet men between the ages of 32 and 46.
View Profile
Crispy990
I'm a 24 year old woman looking to meet men between the ages of 24 and 35.
View Profile
Liena
I'm a 26 year old woman looking to meet men between the ages of 26 and 33.
View Profile
Mo1979
I'm a 35 year old woman looking to meet men between the ages of 29 and 43.
View Profile
RobzMolecule
I'm a 24 year old woman looking to meet men between the ages of 22 and 30.
View Profile
sexyhair
I'm a 42 year old woman looking to meet men between the ages of 35 and 50.
View Profile
Blu
I'm a 28 year old woman looking to meet men between the ages of 27 and 33.
View Profile
Jenny84
I'm a 30 year old woman looking to meet men between the ages of 33 and 40.
View Profile
Lady_101
I'm a 31 year old woman looking to meet men between the ages of 28 and 38.
View Profile
klouise
I'm a 32 year old woman looking to meet men between the ages of 31 and 39.
View Profile
LimitlessSoul
I'm a 45 year old woman looking to meet men between the ages of 40 and 50.
View Profile
LeilaM
I'm a 40 year old woman looking to meet men between the ages of 40 and 55.
View Profile
Chriz_1985
I'm a 29 year old woman looking to meet men between the ages of 18 and 100.
View Profile
Lesel
I'm a 46 year old woman looking to meet men between the ages of 45 and 55.
View Profile
Teleporter1612
I'm a 48 year old woman looking to meet men between the ages of 43 and 100.
View Profile
Artistixoxo
I'm a 23 year old woman looking to meet men between the ages of 23 and 28.
View Profile
ChooseToLoveLife
I'm a 27 year old woman looking to meet men between the ages of 28 and 35.
View Profile
Butterfly_effect
I'm a 38 year old woman looking to meet men between the ages of 36 and 48.
View Profile
ToeTapping
I'm a 58 year old woman looking to meet men between the ages of 45 and 65.
View Profile
BMull08
I'm a 19 year old woman looking to meet men between the ages of 19 and 30.
View Profile
Apple_853
I'm a 35 year old woman looking to meet men between the ages of 35 and 45.
View Profile
Bienkie01
I'm a 35 year old woman looking to meet men between the ages of 34 and 48.
View Profile
Maybe70
I'm a 44 year old woman looking to meet men between the ages of 40 and 50.
View Profile
Authenticity1425
I'm a 39 year old woman looking to meet men between the ages of 34 and 47.
View Profile
Smileawhile
I'm a 45 year old woman looking to meet men between the ages of 40 and 52.
View Profile
liefilyf
I'm a 42 year old woman looking to meet men between the ages of 38 and 48.
View Profile
CTBLONDE
I'm a 38 year old woman looking to meet men and women between the ages of 40 and 50.
View Profile
Minky3001
I'm a 30 year old woman looking to meet men between the ages of 32 and 40.
View Profile
Kay_722
I'm a 29 year old woman looking to meet men between the ages of 30 and 40.
View Profile
Lala8610
I'm a 28 year old woman looking to meet men between the ages of 27 and 32.
View Profile
Bastet_11
I'm a 43 year old woman looking to meet men between the ages of 45 and 48.
View Profile
0044MJM
I'm a 49 year old woman looking to meet men between the ages of 48 and 61.
View Profile
tigerlady28
I'm a 30 year old woman looking to meet men between the ages of 22 and 34.
View Profile
Mickey101
I'm a 25 year old woman looking to meet men between the ages of 25 and 30.
View Profile
meraai_32
I'm a 32 year old woman looking to meet men between the ages of 32 and 45.
View Profile
Dee37
I'm a 38 year old woman looking to meet men between the ages of 38 and 45.
View Profile
GlasswingButterfly
I'm a 35 year old woman looking to meet men between the ages of 33 and 55.
View Profile
AgentI
I'm a 39 year old woman looking to meet men between the ages of 35 and 45.
View Profile
Jobaby10
I'm a 36 year old woman looking to meet men between the ages of 38 and 45.
View Profile
kindlewood
I'm a 44 year old woman looking to meet men between the ages of 42 and 58.
View Profile
Persephone101
I'm a 31 year old woman looking to meet men between the ages of 25 and 45.
View Profile
Isabel_33
I'm a 34 year old woman looking to meet men between the ages of 33 and 42.
View Profile
JustChat76
I'm a 38 year old woman looking to meet men between the ages of 35 and 45.
View Profile
dragonfly86
I'm a 28 year old woman looking to meet men between the ages of 28 and 35.
View Profile
Judith78
I'm a 36 year old woman looking to meet men between the ages of 38 and 48.
View Profile
Warmsmilewarmheart
I'm a 47 year old woman looking to meet men between the ages of 45 and 55.
View Profile
Infin8
I'm a 36 year old woman looking to meet men between the ages of 35 and 42.
View Profile
Fire_and_Ice81
I'm a 33 year old woman looking to meet men between the ages of 25 and 45.
View Profile
Okidoki_63
I'm a 51 year old woman looking to meet men between the ages of 45 and 60.
View Profile
nirina
I'm a 37 year old woman looking to meet men between the ages of 35 and 50.
View Profile
esk123
I'm a 36 year old woman looking to meet men between the ages of 37 and 45.
View Profile
Cathwhite
I'm a 29 year old woman looking to meet men between the ages of 25 and 45.
View Profile
jinxie_007
I'm a 32 year old woman looking to meet men between the ages of 28 and 38.
View Profile
FootballCrazy
I'm a 42 year old woman looking to meet men between the ages of 39 and 50.
View Profile
NotADog
I'm a 42 year old woman looking to meet men between the ages of 35 and 50.
View Profile
Bluebell531
I'm a 46 year old woman looking to meet men between the ages of 40 and 60.
View Profile
Vredelief
I'm a 26 year old woman looking to meet men between the ages of 25 and 34.
View Profile
WandaLove
I'm a 19 year old woman looking to meet men between the ages of 22 and 26.
View Profile
Sonskyn83
I'm a 31 year old woman looking to meet men between the ages of 30 and 45.
View Profile
Denie_28
I'm a 50 year old woman looking to meet men between the ages of 45 and 53.
View Profile
KW82
I'm a 32 year old woman looking to meet men between the ages of 29 and 40.
View Profile
sonskyn27
I'm a 56 year old woman looking to meet men between the ages of 45 and 55.
View Profile
your_wildest_dreams
I'm a 36 year old woman looking to meet men between the ages of 40 and 55.
View Profile
ContagiousLaughter
I'm a 41 year old woman looking to meet men between the ages of 36 and 44.
View Profile
Bebe1000
I'm a 53 year old woman looking to meet men between the ages of 49 and 57.
View Profile
Doeksa
I'm a 33 year old woman looking to meet men between the ages of 33 and 39.
View Profile
HenrietteF
I'm a 32 year old woman looking to meet men between the ages of 30 and 42.
View Profile
FoXyLaDy444
I'm a 56 year old woman looking to meet men between the ages of 50 and 65.
View Profile
Kelbels0201
I'm a 34 year old woman looking to meet men between the ages of 34 and 42.
View Profile
Unicorn17
I'm a 21 year old woman looking to meet men between the ages of 23 and 26.
View Profile
LustForLife
I'm a 40 year old woman looking to meet men between the ages of 39 and 49.
View Profile
Dollie81
I'm a 33 year old woman looking to meet men between the ages of 25 and 49.
View Profile
PowerPrincess
I'm a 41 year old woman looking to meet men between the ages of 38 and 47.
View Profile
cvr
I'm a 27 year old woman looking to meet men between the ages of 28 and 31.
View Profile
TuffLove
I'm a 34 year old woman looking to meet men between the ages of 35 and 45.
View Profile
Angdt
I'm a 21 year old woman looking to meet men between the ages of 23 and 30.
View Profile
GypseyTraveller
I'm a 54 year old woman looking to meet men between the ages of 50 and 58.
View Profile
Foreverinhope
I'm a 48 year old woman looking to meet men between the ages of 45 and 56.
View Profile
JanieL
I'm a 24 year old woman looking to meet men between the ages of 25 and 32.
View Profile
Leigh1979
I'm a 35 year old woman looking to meet men between the ages of 29 and 40.
View Profile
chloeeeee
I'm a 44 year old woman looking to meet men between the ages of 35 and 52.
View Profile
ShanJo
I'm a 35 year old woman looking to meet men between the ages of 30 and 42.
View Profile
Jimmyhgirl
I'm a 37 year old woman looking to meet men between the ages of 18 and 100.
View Profile
fabstanious
I'm a 29 year old woman looking to meet men between the ages of 30 and 40.
View Profile
Hopeful_dreamer
I'm a 37 year old woman looking to meet men between the ages of 33 and 45.
View Profile
LielaZ
I'm a 27 year old woman looking to meet men between the ages of 28 and 35.
View Profile
JillieB
I'm a 61 year old woman looking to meet men between the ages of 55 and 70.
View Profile
Plattelandsenooi3
I'm a 32 year old woman looking to meet men between the ages of 33 and 45.
View Profile
sweets1987
I'm a 27 year old woman looking to meet men between the ages of 32 and 42.
View Profile
MissMoneypenny_13
I'm a 28 year old woman looking to meet men between the ages of 30 and 42.
View Profile
Gemima
I'm a 38 year old woman looking to meet men between the ages of 40 and 50.
View Profile
Smurfette
I'm a 36 year old woman looking to meet men between the ages of 25 and 45.
View Profile
Rarefind
I'm a 55 year old woman looking to meet men between the ages of 52 and 63.
View Profile
butterflyzzz
I'm a 48 year old woman looking to meet men between the ages of 45 and 55.
View Profile
EMT2014
I'm a 30 year old woman looking to meet men between the ages of 30 and 40.
View Profile
FaiRy9
I'm a 26 year old woman looking to meet men between the ages of 27 and 36.
View Profile
miesies
I'm a 29 year old woman looking to meet men between the ages of 29 and 40.
View Profile
JayAnne
I'm a 56 year old woman looking to meet men between the ages of 56 and 70.
View Profile
Pussycat69
I'm a 42 year old woman looking to meet men between the ages of 40 and 50.
View Profile
karooboertjie15
I'm a 40 year old man looking to meet women between the ages of 25 and 40.
View Profile
wiedahunk
I'm a 57 year old man looking to meet women between the ages of 50 and 70.
View Profile
charl1906
I'm a 57 year old man looking to meet women between the ages of 49 and 53.
View Profile
stumpjumper
I'm a 54 year old man looking to meet women between the ages of 40 and 50.
View Profile
Banker009
I'm a 56 year old man looking to meet women between the ages of 34 and 46.
View Profile
CreativeExplorer
I'm a 50 year old man looking to meet women between the ages of 18 and 100.
View Profile
Ryno_56
I'm a 26 year old man looking to meet women between the ages of 18 and 34.
View Profile
BossMorne
I'm a 43 year old man looking to meet women between the ages of 25 and 45.
View Profile
rjscm
I'm a 48 year old man looking to meet women between the ages of 30 and 45.
View Profile
breeze001
I'm a 49 year old man looking to meet women between the ages of 40 and 55.
View Profile
ScottRanger1987
I'm a 27 year old man looking to meet women between the ages of 18 and 30.
View Profile
Suidwester27
I'm a 53 year old man looking to meet women between the ages of 35 and 50.
View Profile
cccdovy
I'm a 56 year old man looking to meet women between the ages of 48 and 56.
View Profile
Stdave
I'm a 38 year old man looking to meet women between the ages of 28 and 42.
View Profile
DaveB_791
I'm a 49 year old man looking to meet women between the ages of 35 and 45.
View Profile
Lastgreatwhite
I'm a 56 year old man looking to meet women between the ages of 40 and 50.
View Profile
captainkid
I'm a 55 year old man looking to meet women between the ages of 47 and 56.
View Profile
Lonomor
I'm a 46 year old man looking to meet women between the ages of 25 and 35.
View Profile
TheDuke_99
I'm a 36 year old man looking to meet women between the ages of 28 and 42.
View Profile
naughty_sporty
I'm a 41 year old man looking to meet women between the ages of 35 and 45.
View Profile
Ironstein06
I'm a 36 year old man looking to meet women between the ages of 25 and 37.
View Profile
Gambino_Family
I'm a 59 year old man looking to meet women between the ages of 42 and 70.
View Profile
Jericho2010
I'm a 41 year old man looking to meet women between the ages of 25 and 49.
View Profile
TLS11
I'm a 53 year old man looking to meet women between the ages of 40 and 60.
View Profile
Pul0007
I'm a 45 year old man looking to meet women between the ages of 30 and 45.
View Profile
Andy_Leo
I'm a 46 year old man looking to meet women between the ages of 25 and 45.
View Profile
goldenhat
I'm a 52 year old man looking to meet women between the ages of 36 and 66.
View Profile
TallDreamer
I'm a 37 year old man looking to meet women between the ages of 28 and 38.
View Profile
5star
I'm a 57 year old man looking to meet women between the ages of 40 and 55.
View Profile
gavinzn
I'm a 57 year old man looking to meet women between the ages of 50 and 57.
View Profile
plodof
I'm a 58 year old man looking to meet women between the ages of 35 and 55.
View Profile
Ons2alleen
I'm a 30 year old man looking to meet women between the ages of 24 and 29.
View Profile
Stand64
I'm a 50 year old man looking to meet women between the ages of 36 and 55.
View Profile
Alachison
I'm a 46 year old man looking to meet women between the ages of 30 and 45.
View Profile
Dazz7605
I'm a 38 year old man looking to meet women between the ages of 25 and 44.
View Profile
Yvard
I'm a 46 year old man looking to meet women between the ages of 30 and 44.
View Profile
lvebird53
I'm a 54 year old man looking to meet women between the ages of 50 and 65.
View Profile
LiveLifeAlways
I'm a 43 year old man looking to meet women between the ages of 33 and 41.
View Profile
FamilyMan72
I'm a 42 year old man looking to meet women between the ages of 30 and 43.
View Profile
willing_915
I'm a 54 year old man looking to meet women between the ages of 55 and 70.
View Profile
6s6s6s
I'm a 43 year old man looking to meet women between the ages of 25 and 45.
View Profile
kannieworrynie
I'm a 56 year old man looking to meet women between the ages of 45 and 55.
View Profile
Natural123
I'm a 52 year old man looking to meet women between the ages of 35 and 45.
View Profile
LovingSerenity
I'm a 38 year old man looking to meet women between the ages of 24 and 45.
View Profile
JustCallMeBwana
I'm a 47 year old man looking to meet women between the ages of 28 and 45.
View Profile
Officer_Gentleman
I'm a 46 year old man looking to meet women between the ages of 35 and 48.
View Profile
Ruger14
I'm a 52 year old man looking to meet women between the ages of 40 and 55.
View Profile
cloudhopper
I'm a 56 year old man looking to meet women between the ages of 45 and 55.
View Profile
pinsnow
I'm a 55 year old man looking to meet women between the ages of 45 and 65.
View Profile
koolstoof55
I'm a 59 year old man looking to meet women between the ages of 45 and 63.
View Profile
IrishBoy11
I'm a 45 year old man looking to meet women between the ages of 27 and 40.
View Profile
Coolfun
I'm a 52 year old man looking to meet men between the ages of 35 and 55.
View Profile
VirgoMan1970
I'm a 44 year old man looking to meet women between the ages of 30 and 50.
View Profile
gentlebutcrazy
I'm a 58 year old man looking to meet women between the ages of 35 and 55.
View Profile
Gaultier2014
I'm a 31 year old man looking to meet women between the ages of 30 and 59.
View Profile
daniel101
I'm a 44 year old man looking to meet women between the ages of 32 and 38.
View Profile
ClassicRocker
I'm a 52 year old man looking to meet women between the ages of 42 and 52.
View Profile
ekke_706
I'm a 50 year old man looking to meet women between the ages of 40 and 55.
View Profile
CL4ptp
I'm a 28 year old man looking to meet women between the ages of 22 and 28.
View Profile
Smartboy_102
I'm a 60 year old man looking to meet women between the ages of 47 and 57.
View Profile
cornrlius205
I'm a 46 year old man looking to meet women between the ages of 25 and 50.
View Profile
Elem_ce
I'm a 35 year old man looking to meet women between the ages of 25 and 35.
View Profile
dinnerfortwo
I'm a 54 year old man looking to meet women between the ages of 40 and 50.
View Profile
versl_550
I'm a 55 year old man looking to meet women between the ages of 45 and 60.
View Profile
Propriety
I'm a 56 year old man looking to meet women between the ages of 35 and 45.
View Profile
brightday111
I'm a 55 year old man looking to meet women between the ages of 48 and 59.
View Profile
Dn212
I'm a 51 year old man looking to meet women between the ages of 45 and 60.
View Profile
henisright
I'm a 50 year old man looking to meet women between the ages of 37 and 53.
View Profile
Bruce_308
I'm a 47 year old man looking to meet women between the ages of 41 and 70.
View Profile
Marius_P
I'm a 40 year old man looking to meet women between the ages of 30 and 55.
View Profile
Guardian_24
I'm a 41 year old man looking to meet women between the ages of 37 and 43.
View Profile
Kitchenslave
I'm a 52 year old man looking to meet women between the ages of 35 and 50.
View Profile
pieterl
I'm a 59 year old man looking to meet women between the ages of 45 and 62.
View Profile
philip_unplugged514
I'm a 62 year old man looking to meet women between the ages of 50 and 68.
View Profile
Firefox_771
I'm a 63 year old man looking to meet women between the ages of 42 and 56.
View Profile
tommy351
I'm a 61 year old man looking to meet women between the ages of 48 and 59.
View Profile
LEANMAN
I'm a 39 year old man looking to meet women between the ages of 25 and 39.
View Profile
jsetrader
I'm a 58 year old man looking to meet women between the ages of 30 and 45.
View Profile
BENTLEY292
I'm a 45 year old man looking to meet men between the ages of 45 and 55.
View Profile
MLACOME0147
I'm a 55 year old man looking to meet women between the ages of 49 and 79.
View Profile
freddic1
I'm a 52 year old man looking to meet women between the ages of 47 and 55.
View Profile
matiekat
I'm a 66 year old man looking to meet women between the ages of 50 and 68.
View Profile
JPretoria
I'm a 38 year old man looking to meet women between the ages of 28 and 40.
View Profile
KTM1190A
I'm a 59 year old man looking to meet women between the ages of 50 and 58.
View Profile
TheRealMrRight
I'm a 43 year old man looking to meet women between the ages of 28 and 42.
View Profile
Fred58
I'm a 56 year old man looking to meet women between the ages of 18 and 100.
View Profile
HappyEnding
I'm a 49 year old man looking to meet women between the ages of 36 and 45.
View Profile
OohCharles
I'm a 53 year old man looking to meet women between the ages of 25 and 45.
View Profile
Lovelyn111
I'm a 53 year old man looking to meet women between the ages of 51 and 63.
View Profile
cknneth111
I'm a 46 year old man looking to meet women between the ages of 41 and 70.
View Profile
Denali
I'm a 45 year old man looking to meet women between the ages of 25 and 40.
View Profile
richy10
I'm a 57 year old man looking to meet women between the ages of 49 and 70.
View Profile
jacuwig
I'm a 25 year old man looking to meet women between the ages of 20 and 25.
View Profile
Agent_K1
I'm a 46 year old man looking to meet women between the ages of 38 and 40.
View Profile
Fitwithhealth
I'm a 72 year old man looking to meet women between the ages of 48 and 65.
View Profile
SingleNSearching60
I'm a 60 year old man looking to meet women between the ages of 55 and 70.
View Profile
virgo5
I'm a 62 year old man looking to meet women between the ages of 45 and 65.
View Profile
DutchDelight_
I'm a 45 year old man looking to meet women between the ages of 30 and 46.
View Profile
Natureboykie
I'm a 60 year old man looking to meet women between the ages of 43 and 64.
View Profile

Business Directory