Employees work on the production line of a carmaker in Qingzhou, Shandong province. [Photo by Wang Jilin/For China Daily]

The country”s factory activities stayed in expansionary territory for eight consecutive months as the purchasing managers index for the manufacturing sector stood at 51.4 in October, according to the National Bureau of Statistics.

NBS senior statistician Zhao Qinghe said on Oct 31 that the recovery of the country’s economy is accelerating as production and demand have kept a rapid pace of rebound and the country’s exports and imports continued to improve thanks to government measures to stabilize foreign trade and the recovery of external demand.

Zhao Ling, a senior investment adviser with Jufeng Investment Consulting, said that in terms of production, PMI has been above the line of expansion for eight consecutive months, indicating a good recovery in production and business activities. Judging from the confidence and vitality of the whole market, the current sound state of economic recovery will continue in the fourth quarter of this year, she added.

Liu Xiangdong, a researcher at the China Center for International Economic Exchanges, believes that from the number of orders, China’s imports and exports are further warming. Although the peripheral economy is still affected by the epidemic and external production is also restrained, China has maintained the stability of production and maintained a steady increase in imports and exports.

He expected that China’s economy will continue its recovery growth in the fourth quarter and is expected to return to the level of potential output. The foreign trade situation will maintain stable growth.

Via China Daily

READ ALSO  Inequality And The Gold Standard