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China factory activity softens
China factory activity softens
We've had some fresh figures out on the health of the Chinese economy, with two surveys pointing to a slowdown in factory activity in April.The official Purchasing Managers' Index (PMI) fell to 50.1 for the month, down from 50.5 in March.The Caixin manufacturing PMI, a private survey, dropped to 50.2 in April, from 50.8 a month earlier.Both readings remained above the 50-level that separates expansion from contraction.To get more China economy news, you can visit shine news official website.
"After jumping in March, both manufacturing PMIs fell back in April, disappointing hopes for a further recovery and reinforcing our view that there are still some downside risks to near-term activity," Capital Economics China economist Julian Evans-Pritchard said.The UK government says it’s determined to find out how a decision (still not confirmed) to use Huawei equipment for some of the country’s 5G needs, was leaked to the press.
George Magnus, from Oxford University’s China Centre, told Radio 4s Today Programme, wherever the leak came from, the timing of it – on the eve of China’s big annual conference on the Belt and Road - was unlikely to have been a coincidence.
“It does obviously pander to some extent to Chinese interests, but not completely,” he points out. The reported decision, suggests the UK will defy US pressure to block Huawei completely.
“It feels like we are kowtowing a bit,” he says. The idea seems to be that this is “a modern form of tribute which will result in favours.”
The Belt and Road initiative is expected to involve more than $1tn in investments in total. But China is having to defend itself against criticism it is burdening developing countries with debt.In January to March, China's economy grew by 6.4% from a year earlier.
The figure suggests the country is much more resilient than many had feared when it comes to the trade war with the United States and slowing demand for China's many exports, as global growth is tepid.
But market-watchers often treat official Chinese growth statistics with a dash of scepticism.Iris Pang, China Economist at ING Bank in Hong Kong, says growth and investment in new 5G mobile data networks could have helped the data seem better.
We've had some fresh figures out on the health of the Chinese economy, with two surveys pointing to a slowdown in factory activity in April.The official Purchasing Managers' Index (PMI) fell to 50.1 for the month, down from 50.5 in March.The Caixin manufacturing PMI, a private survey, dropped to 50.2 in April, from 50.8 a month earlier.Both readings remained above the 50-level that separates expansion from contraction.To get more China economy news, you can visit shine news official website.
"After jumping in March, both manufacturing PMIs fell back in April, disappointing hopes for a further recovery and reinforcing our view that there are still some downside risks to near-term activity," Capital Economics China economist Julian Evans-Pritchard said.The UK government says it’s determined to find out how a decision (still not confirmed) to use Huawei equipment for some of the country’s 5G needs, was leaked to the press.
George Magnus, from Oxford University’s China Centre, told Radio 4s Today Programme, wherever the leak came from, the timing of it – on the eve of China’s big annual conference on the Belt and Road - was unlikely to have been a coincidence.
“It does obviously pander to some extent to Chinese interests, but not completely,” he points out. The reported decision, suggests the UK will defy US pressure to block Huawei completely.
“It feels like we are kowtowing a bit,” he says. The idea seems to be that this is “a modern form of tribute which will result in favours.”
The Belt and Road initiative is expected to involve more than $1tn in investments in total. But China is having to defend itself against criticism it is burdening developing countries with debt.In January to March, China's economy grew by 6.4% from a year earlier.
The figure suggests the country is much more resilient than many had feared when it comes to the trade war with the United States and slowing demand for China's many exports, as global growth is tepid.
But market-watchers often treat official Chinese growth statistics with a dash of scepticism.Iris Pang, China Economist at ING Bank in Hong Kong, says growth and investment in new 5G mobile data networks could have helped the data seem better.
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