Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Policies

    Indexes indicate business picking up

    By Jiang Xueqing and Chen Jia | China Daily | Updated: 2020-04-01 07:53
    Share
    Share - WeChat
    Workers produce mobile phone cameras in Xinpu Industrial Park, Haizhou Economic Development Zone, Jiangsu province, on Tuesday. Jiangsu has introduced a series of policies cutting taxes and fees to help the park's foreign companies cope with the impact of COVID-19. [Photo by Geng Yuhe/For China Daily]

    China's manufacturing purchasing managers index stood at 52 in March, up from 35.7 in February, showing a significant, positive change in production and business operations from the previous month.

    The nonmanufacturing business activities index was 52.3, compared with 29.6 last month. The comprehensive PMI output index rose to 53 from 28.9, the National Bureau of Statistics said on Tuesday.

    "The month-over-month PMI rebound in March reflected the improvement in production and business operations from the previous month, as the majority of enterprises are steadily pushing ahead with the resumption of work and production. But it does not mean that the actual status of production has returned to the level before the novel coronavirus outbreak," said the head of the service survey center at the NBS.

    Observation needed

    "We cannot draw a conclusion that China's economy has completely returned to normal simply because PMI rose above the neutral 50 mark dividing expansion from contraction for a single month. We still need to continuously observe changes in the economy to see whether there is a trend of getting better," the official said in the transcript of an interview with China Information News posted on the NBS website on Tuesday.

    As of March 25, 96.6 percent of the large and medium-sized enterprises surveyed by purchasing managers in China had resumed work, 17.7 percentage points higher than on Feb 25.

    The production index, one of the five subindexes comprising the manufacturing PMI, rose to 54.1 from 27.8, indicating that manufacturing production activity had picked up. The new orders subindex rose to 52 from 29.3, indicating that market demand had recovered, said Wen Bin, chief analyst at China Minsheng Banking Corp.

    "Both manufacturing and nonmanufacturing PMIs climbed above the 50 mark, showing improvement in economic activities. But analysts still have to follow economic trends afterward to tell whether the economy has recovered," Wen said.

    "Next, China should further step up countercyclical regulation, coordinate its financial, fiscal and employment policies, overcome obstacles for the resumption of production, increase the provision of funds, lower financing costs for the real economy and ensure that the economy continues to show signs of improvement," he said.

    Looking ahead, PMI may fluctuate in the second quarter due to the rapid spread of the pandemic worldwide, said Lian Ping, chief economist at Zhixin Investment.

    "We should watch the global spread of the disease closely, which may lead to a contraction of external demand and force business activities to halt. As a result, the manufacturing PMI may drop again in April, but the degree of decline will be lower than that of the first two months of this year," Lian said.

    External changes will also affect exports, employment, incomes, consumption and market expectations, he said.

    Slowdown projected

    The World Bank forecast slower economic growth in the East Asia and Pacific region, which has been hit by the novel coronavirus, in the face of the prospect of a global financial shock and recession.

    China's economic growth is projected to decline to 2.3 percent in the baseline or most likely scenario and to 0.1 percent in a worse-case scenario in 2020, down from 6.1 percent in 2019, the World Bank said in the updated economic report for the East Asia and Pacific region issued on Tuesday.

    Ma Jun, a member of the central bank's monetary policy committee, said at a recent online seminar that it would be difficult for China's GDP growth to reach 6 percent this year. Given the uncertainties, Ma suggested that a GDP growth target should not be set for 2020, the Economic Daily reported on Tuesday.

    An unrealistic target would push local governments to take aggressive stimulus measures, especially by promoting infrastructure investment. That could lead to a "flood" of monetary easing, and capital-intensive infrastructure investments would not be helpful for reducing unemployment in the short run, he said.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    无码精品人妻一区二区三区免费看 | 精品无码AV无码免费专区| 国产日产欧洲无码视频无遮挡| 伊人蕉久中文字幕无码专区 | 国产成人无码A区在线观看视频| 亚洲日韩VA无码中文字幕| 久久午夜无码鲁丝片午夜精品| 久久午夜无码鲁丝片秋霞| 暖暖免费日本在线中文| 狠狠躁天天躁无码中文字幕图| 婷婷四虎东京热无码群交双飞视频 | 中文字幕无码成人免费视频| 中文字幕人妻中文AV不卡专区| 国产成人无码精品一区在线观看 | 亚洲AV无码一区东京热| 再看日本中文字幕在线观看| 亚洲AV中文无码乱人伦在线观看| 极品粉嫩嫩模大尺度无码视频| 无码人妻精品一区二区三18禁| 伊人久久综合精品无码AV专区| 中文字幕无码播放免费| 大地资源中文在线观看免费版| 五十路熟妇高熟无码视频| 国产午夜鲁丝无码拍拍| 无码GOGO大胆啪啪艺术| 亚洲av中文无码乱人伦在线咪咕| 十八禁视频在线观看免费无码无遮挡骂过| 久久久久中文字幕| 中文字幕一区二区人妻性色| 蜜臀精品无码AV在线播放| 亚洲av无码一区二区三区人妖 | 无码人妻AV免费一区二区三区| 中文字幕在线观看国产| 最好看2019高清中文字幕| 亚洲精品人成无码中文毛片 | 日韩精品无码视频一区二区蜜桃 | 无码日韩精品一区二区免费| 亚洲AV无码成人精品区蜜桃| 少妇人妻偷人精品无码视频| 无码人妻精品一区二区三区久久久| 人妻无码久久一区二区三区免费|