China HSBC PMI hit nine month low in June

By | June 20, 2013

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On June 20, the HSBC China Flash Manufacturing PMI report of June was released. The PMI preview value is 48.3, a record low for 9 months, compared to a value of 49.2 in May. Chinese manufacturing output index preview value is 48.8, hitting an eight-month low, compared to the value of 50.7 in May.

HSBC’s China chief economist and co-head of Asian Economic Research, Qu Hongbin commented the China Manufacturing PMI flash data, he said that in respect of the economic growth policy options, the Chinese government in policy level is now choosing to accelerate reforms and focuses more on promoting balance development, rather than simply and direct stimulus efforts; according to him the growth in the second quarter of 2913 is expected to slow down slightly.

China to return to the growth track in 2015

“In a lot of fields, reforms are necessary in order to achieve sustainable growth in China; in respect of the current reform measures, if implemented relatively smoothly in the next year or two, I think starting from 2015, China’s economy will enter into a healthier, more sustainable and long-term based economic recovery channel. “Qu Hongbin said that this new trend of policy should be a positive.

Source: Tencent Finance

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