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China PMI rises, leaders pledge reforms
August 1, 2013, 4:14 am

New orders rose 0.2 percentage points to 50.6 percent [Xinhua images]

New orders rose 0.2 percentage points to 50.6 per cent [Xinhua]

China’s purchasing managers’ index (PMI) for the manufacturing sector rose slightly to 50.3 per cent in July from 50.1 per cent in June.

Data from the China Federation of Logistics and Purchasing (CFLP) was released on Thursday.

The 50-point mark separates expansion from contraction.

China’s growth has slowed to to 7.5 per cent growth in the second quarter from 7.7 per cent in the first three months, according to the National Bureau of Statistics (NBS).

Chinese President Xi Jinping said last week that reforms must be comprehensively deepened in order to help China cope with challenges.

New orders in manufacturing rose 0.2 percentage points to 50.6 per cent, Thursday’s data shows.

New export orders were up by 1.3 percentage points from June to 49 per cent last month.

Production moved up 0.4 percentage points from June to 52.4 per cent.

Apart from official data, British bank HSBC’s July data said China’s manufacturing PMI index dipped to 47.7 from 48.2 in June.

The Political Bureau of the ruling Communist Party of China Central Committee pledged at a conference this week to keep the economy growing steadily in the second half of this year, amid “extremely complicated domestic and international conditions.”

Meanwhile China’s National Development and Reform Commission Chairman Xu Shaoshi said China will put in “arduous efforts” to realize the targetted 7.5 per cent growth this year.

Sources: Agencies