Chinese Economic Policy

Chinese factory activity rebounded in January from three months of contraction, adding to signs the world's second-largest economy might be recovering from a painful slump, an official survey showed Tuesday. A monthly purchasing managers' index issued by the Chinese statistics agency and an industry group rose to 50.1 on a 100-point scale on which numbers above 50 show activity growing. That was an unusually large gain of 3.1 points from December's 47. China's economic growth sank to 2.9 per cent over a year earlier in the final three months of 2022, but economists point to increased investment and improved consumer spending as signs activity is recovering. Manufacturers have been hurt by lackluster US and European demand for exports after central banks raised interest rates to fight inflation. Chinese consumer demand weakened following COVID-19 outbreaks and a downturn in the real estate industry. New orders, new export orders, factory activity and employment improved in January,

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Growth in China's manufacturing activity softened in June as export demand weakened and producers struggled with supply bottlenecks, a survey showed Wednesday. The monthly purchasing managers' index issued by the national statistics agency and an industry group declined to 50.9 from May's 51.0 on a 100-point scale on which numbers above 50 show activity increasing. Measures of new export orders, production and factory gate prices declined. The latest surveys suggest that growth softened this month, Julian Evans-Pritchard and Sheana Yue of Capital Economics said in a report. Supply shortages continued to hold back output in the manufacturing sector. China's factory output and consumer spending have rebounded to above pre-pandemic levels but export demand is uneven as governments fight outbreaks of the new coronavirus variant. Companies still expect to be cautious, economist Zhang Liqun said in a statement issued by the China Federation of Logistics & Purchasing along with the PMI .

China was the first to be hit by the Covid-19 and the earliest to recover from the lockdown effects

China is the world's second-biggest economy

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The result was an explosion of economic growth and a rapid increase in living standards