left corner left corner
    China Daily Website

    China's business service sector boosts economy

    Updated: 2013-11-04 00:33
    By Chen Jia ( China Daily)

    Non-manufacturing PMI hits a 14-month high as growth continues

    China's non-manufacturing Purchasing Managers Index reached a 14-month high of 56.3 in October from 55.4 in September, suggesting a stable expansion of domestic demand.

    The National Bureau of Statistics and the China Federation of Logistics and Purchasing released the figure on Sunday, showing that growth in the business service sector has contributed more to the overall economy.

    A reading above 50 indicates that non-manufacturing production activities are accelerating, while below 50 means they are slowing.

    "Continual expansion of the non-manufacturing sector will lead to steady employment growth, which is an important foundation to stabilizing the whole economy," said Cai Jin, vice-chairman of the CFLP.

    Cai said the upward momentum of the sector is expected to remain in the coming months, and the development potential of the service industry should be further realized.

    A subindex of the non-manufacturing PMI that indicates entrepren

    Analysts said the positive signals from the non-manufacturing industry will further help to transform China's economic growth pattern to a consumption-driven model.

    In 2011, the service industry overtook manufacturing as the world's second-largest source of jobs.

    In October, the manufacturing PMI climbed to an 18-month high to 51.4 from September's 51.1, higher than the market expected. The growth was mainly driven by stronger output, the NBS said on Friday.

    Based on the stronger leading economic indicators, UBS chief Chinese economist Wang Tao expects that "the upcoming October data will show that economic activities have remained solid".

    Consumer inflation is likely to pick up further while the growth of bank leading and overall social financing may slow after the rapid increase in September, she said.

    Ma Xiaoping, an economist in China at HSBC Holdings PLC, said the existing government policies to stabilize growth, such as supporting small businesses and maintaining infrastructure construction investment, will continue to work in the coming months.

    "The recent acceleration of capital inflow and expansion of fiscal expenditures will help keep a relatively sufficient

    Besides, a rebound in employment and growth of incomes can boost consumption in the future, he added.

    The Third Plenary Session of the 18th Communist Party of China Central Committee — to be held from Nov 9 to 12 — will offer an opportunity to lay out a comprehensive reform blueprint for the coming decade.

    It is expected to stress structural reform in China for the medium and long term.

     
    8.03K
     
    ...
    无码精品久久久久久人妻中字| 色噜噜狠狠成人中文综合| 无码av不卡一区二区三区| 少妇中文无码高清| 一区二区三区无码高清| 亚洲AV人无码激艳猛片| 亚洲国产午夜中文字幕精品黄网站 | 中文字幕你懂得| 无码人妻精品一区二| 无码一区二区三区视频| 免费中文字幕视频| 亚洲人成无码久久电影网站| 无码人妻AV免费一区二区三区| 日韩乱码人妻无码中文视频| 中文字幕乱码中文乱码51精品| heyzo高无码国产精品| 午夜无码伦费影视在线观看| 人妻无码人妻有码中文字幕| 欧美中文在线视频| 最近免费中文字幕MV在线视频3 | 无码人妻视频一区二区三区| 曰韩中文字幕在线中文字幕三级有码 | 中文精品无码中文字幕无码专区| AV无码久久久久不卡蜜桃| 无码日韩精品一区二区免费暖暖| 永久免费AV无码网站国产| 亚洲欧洲中文日韩久久AV乱码| 中日精品无码一本二本三本| 无码人妻精品一区二区蜜桃百度 | 无码日韩精品一区二区三区免费 | 午夜人性色福利无码视频在线观看| 日韩亚洲欧美中文高清在线| 日本中文字幕免费高清视频| 亚洲精品无码午夜福利中文字幕| 熟妇人妻中文av无码| 亚洲人成影院在线无码观看| 天堂√中文最新版在线| 人妻少妇精品中文字幕av蜜桃| 亚洲AV无码一区二三区| 亚洲中文字幕无码一区| 国内精品久久久人妻中文字幕|