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
     
    中文字幕av在线| 中文午夜乱理片无码| 中文字幕乱码久久午夜| 亚洲中文字幕日产乱码高清app| 大桥久未无码吹潮在线观看| 亚洲中文字幕日产乱码高清app | 精品无人区无码乱码大片国产| HEYZO无码综合国产精品227| 国产 欧美 亚洲 中文字幕| 最近的中文字幕大全免费8| 亚洲Av无码国产情品久久| 亚洲国产综合精品中文字幕| 日木av无码专区亚洲av毛片| 亚洲AV无码乱码在线观看牲色 | 日本中文字幕在线| 69ZXX少妇内射无码| 亚洲av无码精品网站| 久久人妻AV中文字幕| 无码丰满熟妇一区二区| 秋霞无码一区二区| 最近中文字幕高清字幕在线视频 | 亚洲午夜福利精品无码| 18禁黄无码高潮喷水乱伦| 无码精品视频一区二区三区 | 无码人妻黑人中文字幕| 亚洲中文字幕无码一区| 日韩精品无码一区二区视频| 精品人妻系列无码人妻免费视频 | 午夜精品久久久久久久无码| 国产精品亚洲αv天堂无码| 国产成人无码一区二区在线播放 | 最近免费字幕中文大全视频| 无码中文av有码中文a| 色窝窝无码一区二区三区| 少妇无码一区二区二三区| 午夜亚洲AV日韩AV无码大全| 亚洲中文字幕无码日韩| 亚洲AV无码久久精品狠狠爱浪潮| 无码GOGO大胆啪啪艺术| AV无码精品一区二区三区| 久久亚洲AV无码西西人体|