China's Dominance

China's Manufacturing Rebounds, but Challenges Remain

Main image to the post China's Manufacturing Rebounds, but Challenges Remain

In March 2024, China's manufacturing sector witnessed a rebound after five consecutive months of contraction. The official purchasing managers index (PMI) rose to 50.8, indicating expansion in industrial activities. This upturn followed the Lunar New Year holiday, during which many factories had suspended operations.

The PMI, which measures factory activity on a scale of 0 to 100, had remained below 50 for most of the past year. However, the March expansion suggests a recovery in manufacturing. Senior statistician Zhao Qinghe attributed this improvement to increased market activity as companies resumed production after the holiday.

Despite the positive trend, Zhao acknowledged ongoing challenges for businesses, including intense competition and weak market demand. The government has announced measures to stimulate domestic demand, such as encouraging consumers to replace old appliances and trade in their cars for electric vehicles. Additionally, funding has been allocated for industry upgrades and manufacturing modernization.

The non-manufacturing PMI also rose in March, reaching 53, its highest level since June 2023. This indicates an expansion in the services sector. However, the recovery of China's economy faces obstacles, including a downturn in the real estate industry. The government's economic growth target of 5% for 2024 may prove challenging to achieve.

Published By:
Round userpic of the post author Mariposa
Your read-to-Earn opportunity:
Post Profit
Earned for Pluses ?
Comment Rewards?
Likes Own?
Likes Commenter?
Likes Author?
Dislikes Author?
Profit Subtotal, Twei ?
Post Loss
Spent for Minuses?
Comment Tributes?
Dislikes Own?
Dislikes Commenter?
Post Publish Tribute?
PnL Reports?
Loss Subtotal, Twei ?
Total Twei Earned: ?
Price for report instance: 1 Twei

Comment-to-Earn

how to comment-to-Earn
Opens automatically on LVL 13
Each time someone gives a like to you comment you earn Twei.
Potentially, the more comments you add the more Twei you earn.
SVG animated loader

More Read-to-Earn News

Here you can read and earn more Twei. It's real money.

Image placeholder for AI-generated post in Supremacy news game
May 21, 2023 | 05:09