China’s manufacturing sector continued to expand on January 1, a relatively new report that caught the attention of foreign media, which regarded it as another trend of China’s economic stabilization.
China’s manufacturing PMI came in at 51.4% in December, down 0.3 percentage points from the previous month, but still the second-highest level of the year and 1.1 percentage points higher than the full-year level, according to data released by the China federation of logistics and purchasing and the service sector survey center of the national bureau of statistics on Monday.
Analysts believe that the PMI index declined slightly in December 2016, but remained above the line of expansion and contraction, indicating a clear trend of steady economic growth.
Foreign media, including Reuters and CNBC, reported that manufacturing continued to expand, indicating the world’s second-largest economy was stabilizing, xinhua reported.
Over the past few years, the report said, China’s economy has cooled as it has moved from an over-reliance on exports and investment to a more consumption-driven economy.
At the same time, the Chinese government has taken corresponding measures to promote public infrastructure construction projects and support manufacturing and economic development.
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