CHINA’S manufacturing sector gained momentum this month, with more industries returning to growth and high-tech and consumer goods production remaining robust, official data showed Monday.
The purchasing managers’ index (PMI) for China’s manufacturing sector rose for the second straight month in June to 49.7, the National Bureau of Statistics (NBS) said in a statement. The reading was 49.5 in May and 49 in April.
Of 21 surveyed industries, 11 logged expansion this month, up from 7 in May. The PMIs for the manufacturing of equipment, high-tech products and consumer goods have stayed in the expansion zone for two consecutive months, standing at 51.4, 50.9, and 50.4, respectively.
A PMI reading above 50 indicates expansion, while a reading below 50 signals contraction.
Monday’s data also showed that the non-manufacturing PMI came in at 50.5 in June, up 0.2 percentage points from the previous month, and the general PMI climbed from 50.4 to 50.7.
Specifically, the construction sector gained momentum, while the service sector continued its upward trend, with postal services, information technology and financial services maintaining relatively high levels of activity.
With all three major indices on the rise, the overall economic climate continued to improve, NBS statistician Zhao Qinghe said.
China has intensified its policy support to bolster the economy amid external uncertainties, effectively driving industrial growth. In May, the value-added output of major industrial enterprises rose by 6.2 per cent year on year, underscoring the sector’s strong resilience and growth potential.
In particular, the national policies promoting industrial equipment upgrades and consumer goods trade-ins have injected vitality into consumer demand and stimulated production, NBS spokesperson Fu Linghui has said.
Meanwhile, China’s efforts in industrial transition have also gained traction, with a steady push towards high-end, intelligent and green production.
High-tech manufacturing — a key pillar of the industrial transformation — saw its value-added output jump 8.6 per cent year on year in May. The output of new energy vehicles and solar cells surged by 31.7 per cent and 27.8 per cent, respectively, continuing their rapid growth trajectory.
Xinhua
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