In July, the China Caixin Manufacturing Purchasing Managers Index (PMI) indicated a final reading of 49.9, up 0.5 points compared to the final reading for June, as announced by Beijing-based Caixin media group.
Zhong Zhengsheng, chief economist with China Economic and Business Monitor (CEBM), part of Caixin Insight Group, stated that entrepreneurs in the manufacturing industry are now more confident as regards the future prospects for the Chinese economy, based on the government’s policies to lower taxes and administrative fees, while regulation in the real estate market has taken effect and exerted a positive impact on economic development.
Meanwhile, as announced by China's National Bureau of Statistics (NBS), the purchasing managers' index (PMI) for China’s manufacturing sector was at 49.7 percent in July, up 0.3 percentage points compared to the previous month.
