Latest news with #ZhaoQinghe
Fibre2Fashion
01-07-2025
- Business
- Fibre2Fashion
Chinas' manufacturing PMI inches towards recovery in June: NBS
China's manufacturing sector showed continued signs of recovery in June, with the purchasing managers' index (PMI) rising for the second month in a row to 49.7, according to the National Bureau of Statistics (NBS). This followed readings of 49.5 in May and 49 in April, reflecting gradual improvement across industries. Out of the 21 sectors surveyed, 11 reported expansions in June—an increase from just 7 in the previous month. Notably, equipment, high-tech, and consumer goods manufacturing remained in positive territory for the second consecutive month, with PMIs at 51.4, 50.9, and 50.4, respectively. The non-manufacturing PMI edged up to 50.5 in June, a 0.2-point increase from May. The general PMI rose from 50.4 to 50.7. The upward movement across all three key indices points to a steady recovery trend, Chinese media reports said quoting NBS statistician Zhao Qinghe. China's manufacturing PMI rose to 49.7 in June, marking a second consecutive monthly increase, signalling gradual recovery, as per NBS. Of 21 sectors, 11 showed growth, with equipment, high-tech, and consumer goods PMIs staying above 50. The non-manufacturing PMI climbed to 50.5, and the general PMI rose to 50.7. The consistent rise across indices reflects a steady improvement in economic activity. A PMI above 50 denotes growth, while a figure below indicates contraction. Fibre2Fashion News Desk (SG)
The Star
30-06-2025
- Business
- The Star
Factory activity decline eases after trade truce
Tariff ceasefire: Workers at a plastics factory in Shenzhen. For all the attention on Trump's pledge to bring mass manufacturing back to American shores, China's factories are finding ways to remain central to the global supply chain. — Bloomberg BEIJING: China's factory activity improved for a second month but remained in contraction, as trade rebounded after the ceasefire in the tariff war with the United States, while weak domestic demand weighed on the economy. The official manufacturing purchasing managers' index (PMI) was 49.7 in June, versus 49.5 in the previous month, slightly exceeding the median estimate in a Bloomberg survey of analysts. A reading below 50 indicates contraction. The non-manufacturing measure of activity in construction and services rose to 50.5 from 50.3 last month, the National Bureau of Statistics (NBS) said yesterday. That compared with a forecast of 50.3. The offshore yuan extended its gain after the data release and was 0.2% stronger at 7.1626 per US dollar. Futures on 30-year government bonds fell as much as 0.6%, the most in a month, as traders dialled back bets on further monetary easing. For manufacturing, the new orders index expanded for the first time in three months, though a gauge of employment worsened again after a slight improvement in May. Among the 21 industries surveyed, more than half were in expansion territory, according to the statistics service. 'Manufacturing production activities accelerated and market demand improved,' Zhao Qinghe, a senior NBS statistician, said in a statement. The PMI figures are the first official data available each month to provide a snapshot of the Chinese economy. The latest reading captured the first full month after Beijing and Washington agreed to a 90-day truce in their trade war. Overseas demand, which made up almost 40% of economic growth in the first quarter, is helping compensate for sluggish spending by consumers at home. But it also makes China more reliant on maintaining stable ties with trade partners such as the United States, with whom Beijing just finalised a trade framework negotiated in Geneva. The pact codified the terms laid out in trade talks between the United States and China, including a commitment from Beijing to deliver rare earths used in everything from wind turbines to jet planes. The strength of Chinese manufacturing in the rest of the year remains in question given an uncertain export outlook, with a more lasting trade deal still elusive. Several global banks, including Bank of America Corp and Citigroup Inc, recently raised forecasts for China's growth in 2025 as the tariff truce improves confidence. Even so, economists surveyed by Bloomberg expect gross domestic product to expand 4.5% this year, significantly below the official target of around 5%. With the manufacturing output index hitting a three-month high of 51, industrial production in June 'won't be too bad', said Raymond Yeung, chief economist for Greater China at Australia and New Zealand Banking Group Ltd. 'The question for policymakers is deflation and joblessness instead of growth,' he said. 'I am not worried about China's gross domestic product.' President Donald Trump's China envoy, David Perdue, recently warned the United States wanted to revamp its trading relationship with China and the world by bringing many critical supply chains back onshore. The US ambassador said American leaders had been 'blind to the hollowing out of many US strategic industries', a sign that trade tensions between the two nations could persist. — Bloomberg
eNCA
30-06-2025
- Business
- eNCA
China manufacturing shrinks in June despite trade war respite
BEIJING - China's manufacturing activity ticked up in June but remained in contraction territory, official data showed on Monday, as the truce in its trade war with the United States held. The Purchasing Managers' Index -- a key measure of industrial output -- came in at 49.7, according to the National Bureau of Statistics (NBS). The figure was higher than May's 49.5 and slightly above the 49.6 estimated by a Bloomberg pool of analysts. However, it fell below the 50-point mark that separates growth and contraction for the third straight month. China's "economic prosperity level remained expansionary overall" in June, NBS statistician Zhao Qinghe said in a statement. "Manufacturing production activity accelerated, and market demand improved," Zhao said. China's economy has struggled to sustain its post-pandemic recovery as it battles a prolonged debt crisis in the crucial property sector, chronically low consumption and elevated youth unemployment. It has also been hit by a fusillade of import tariffs unleashed by US President Donald Trump since the start of the year. However, Beijing and Washington called a truce on the staggeringly high duties in May, and Trump said on Sunday that the United States was "getting along well with China".
The Sun
30-06-2025
- Business
- The Sun
China manufacturing shrinks in June despite trade war respite
BEIJING: China's manufacturing activity ticked up in June but remained in contraction territory, official data showed on Monday, as the truce in its trade war with the United States held. The Purchasing Managers' Index -- a key measure of industrial output -- came in at 49.7, according to the National Bureau of Statistics (NBS). The figure was higher than May's 49.5 and slightly above the 49.6 estimated by a Bloomberg pool of analysts. However, it fell below the 50-point mark that separates growth and contraction for the third straight month. China's 'economic prosperity level remained expansionary overall' in June, NBS statistician Zhao Qinghe said in a statement. 'Manufacturing production activity accelerated, and market demand improved,' Zhao said. China's economy has struggled to sustain its post-pandemic recovery as it battles a prolonged debt crisis in the crucial property sector, chronically low consumption and elevated youth unemployment. It has also been hit by a fusillade of import tariffs unleashed by US President Donald Trump since the start of the year. However, Beijing and Washington called a truce on the staggeringly high duties in May, and Trump said on Sunday that the United States was 'getting along well with China'.
CNA
30-06-2025
- Business
- CNA
China manufacturing shrinks in June despite trade war respite
BEIJING: China's manufacturing activity ticked up in June but remained in contraction territory, official data showed on Monday (Jun 30), as the truce in its trade war with the United States held. The Purchasing Managers' Index – a key measure of industrial output – came in at 49.7, according to the National Bureau of Statistics (NBS). The figure was higher than May's 49.5 and slightly above the 49.6 estimated by a Bloomberg pool of analysts. However, it fell below the 50-point mark separating growth and contraction for the third straight month. China's "economic prosperity level remained expansionary overall" in June, NBS statistician Zhao Qinghe said in a statement. "Manufacturing production activity accelerated, and market demand improved," Zhao said. Zichun Huang, China economist at Capital Economics, said the June figures "suggest that China's economy regained some momentum, supported by a rebound in manufacturing and construction". "But we remain cautious about the outlook, as weaker export growth and a fading fiscal tailwind is likely to slow activity in the second half of the year," Huang said. China's economy has struggled to sustain its post-pandemic recovery as it battles a prolonged debt crisis in the crucial property sector, chronically low consumption and elevated youth unemployment. It has also been hit by a fusillade of import tariffs unleashed by US President Donald Trump since the start of the year. However, Beijing and Washington called a truce on the staggeringly high duties in May, and Trump said on Sunday that the United States was "getting along well with China".
