China’s factory activity has expanded for the first time in six months in a positive sign for Beijing as the world’s second-largest economy grapples with a deep property slowdown and weak investor confidence.
The National Bureau of Statistics on Sunday said the manufacturing purchasing managers’ index was 50.8 points in March, up from 49.1 in February and the highest in a year, supported by rising export orders. A reading above 50 indicates expansion from the previous month.
But the NBS warned that further state support for industry was needed, with companies suffering from “insufficient market demand”, underlining worries among China’s trading partners that industrial overcapacity could spill over into export markets.
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