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☆ China’s new factory data shows a bright start to the year
▼ + stars: | 2024-04-01 | by ( ) edition.cnn.com time to read: +2 min

The Caixin/S&P Global manufacturing PMI rose to 51.1 in March from 50.9 the previous month, above analysts’ forecasts of 51.0 and marking an expansion for the fifth consecutive month. The upbeat results followed recent better-than-expected export and retail sales data, suggesting a bright start to the year for the world’s second-biggest economy. Official factory data published on Sunday also entered positive territory, offering relief to policymakers even as a crisis in the property sector remains a drag on the economy and confidence. The official purchasing managers’ index (PMI) rose to 50.8 in March from 49.1 in February, expanding for the first time in six months. But analysts say policymakers will need to roll out more stimulus to hit that target as they will not be able to count on the weak statistical base of 2022 which flattered 2023 growth data.

Persons: Li Qiang, ”, Wang Zhe, Wang Organizations: P Global, PMI, Sunday, Citi, Caixin Insight Locations: Beijing

☆ Caixin survey shows China's March factory activity at its most robust in 13 months
▼ + stars: | 2024-04-01 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +1 min

China's factory activity in March expanded by its strongest pace in more than a year, a private survey showed on Monday, in signs of stabilizing growth in the world's second-largest economy. The Caixin/S&P Global China manufacturing purchasing managers' index was 51.1 in March — its strongest since February 2023 — after coming in at 50.9 in February. Economists had expected the reading to hit 51, according to a Reuters poll. This reading corroborates another official survey of manufacturing activity that surpassed market expectations and came at its strongest in 11 months. The official survey for non-manufacturing activity in China recorded its most robust reading since June, adding to encouraging recent export and retail sales data.

Persons: Wang Zhe Organizations: P Global, Caixin Insight, China's National Bureau of Statistics Locations: P Global China, China

☆ China PMI: Factories send mixed signals about the economy, pressing Beijing to do more
▼ + stars: | 2024-03-01 | by ( Laura He | ) edition.cnn.com time to read: +4 min

But the Caixin manufacturing PMI — which focuses on smaller, private companies — rose to 50.9 in February, up from 50.8 in January, according to S&P Global, which compiled the survey. The divergence in the output and new order sub-indexes is likely related to differences in geographic and sector coverage, as the Caixin PMI covers more southern regions, they said. “Overall, the manufacturing sector continued to improve in February,” said Wang Zhe, senior economist at Caixin Insight Group, in a statement that accompanied the Caixin PMI data. “Looking ahead, the focus should be on the effectiveness of the measures [announced previously by Beijing to boost growth],” Wang said. “Fiscal policy will lead the way,” HSBC analysts said Friday.

Persons: ” Goldman Sachs, ”, Wang Zhe, ” Wang, Xi Jinping, Lintao Zhang, “ Organizations: Hong Kong CNN, National Bureau of Statistics, P, National People’s Congress, PMI, Caixin Insight, “, of People, Communist Party’s Politburo, NPC, Xinhua, HSBC Locations: China, Hong Kong, Beijing, Southern China, Guangdong, Zheijang, ” China

☆ Caixin survey shows China's factory activity expanded for a third month in January, extending divergence with official data
▼ + stars: | 2024-02-01 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

Johannes Neudecker | Picture Alliance | Getty ImagesChina's factory activity expanded for a third-straight month in January, a private-sector survey showed on Thursday, helped by the first expansion in new export orders in seven months. Thursday's print though, extended a divergence from official data that points to the patchy growth in the world's second-largest economy and underscores the need for policy support. China's National Bureau of Statistics released data Wednesday that showed the country's official manufacturing PMI coming in at 49.2 in January, a fourth consecutive monthly contraction — compared with 49 in December. The Caixin manufacturing PMI surveys around 650 private and state-owned manufacturers that tend to be more export-oriented and located in China's coastal regions, while the official PMI surveys 3,200 companies across China. Employment in China's manufacturing sector trended down in the official survey released Wednesday as in the Caixin survey.

Persons: Johannes Neudecker, Wang Zhe, Wang Organizations: Getty, P Global, National Bureau of Statistics, Overseas, Caixin Insight Locations: China

☆ China's Nov services activity accelerates on boost from new orders - Caixin PMI
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

The findings present a mixed picture of the vast services sector as an official survey last week showed the sector unexpectedly contracted for the first time since December last year, prompting calls for more stimulus measures. "Both services supply and demand expanded, as the market continued to heal," said Wang Zhe, economist at Caixin Insight Group. Analysts say the different survey sizes and composition of surveyed companies might explain the discrepancy between the Caixin and official PMI readings. Caixin/S&P's composite PMI, which includes both manufacturing and services activity, grew to 51.6 from 50.0 in October, marking the strongest reading since August. According to the Caixin services survey, employment fell for the first time since the start of 2023 as some firms maintained a cautious approach to hiring.

Persons: Wang Zhe, Wang, Louise Loo, spender, Loo, Ellen Zhang, Ryan Woo, Shri Navaratnam Organizations: P Global, Caixin Insight, PMI, Oxford, Thomson Locations: BEIJING, October's, China

☆ Asia's factories squeezed as China's nascent recovery teeters
▼ + stars: | 2023-11-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Purchasing managers' indexes (PMIs) for factory powerhouses China, Japan and South Korea showed activity shrinking while Vietnam and Malaysia also struggled with the broadening fallout from a Chinese slowdown. "Overall, manufacturers were not in high spirits in October," said Wang Zhe, an economist at Caixin Insight Group, on China's survey outcome. Japan's factory activity shrank for a fifth straight month in October, the final au Jibun Bank PMI showed. South Korea's factory activity fell for the 16th straight month while PMIs from Taiwan, Vietnam and Malaysia also showed continued declines in activity. The International Monetary Fund (IMF) has warned that China's weak recovery and the risk of a more protracted property crisis could further dent Asia's economic prospects.

Persons: Stringer, Wang Zhe, Leika Kihara, Sam Holmes Organizations: REUTERS, PMI, P Global, Caixin Insight, Jibun, Murata Manufacturing, Monetary Fund, IMF, Thomson Locations: Zouping, Shandong province, China, Japan, South Korea, TOKYO, Vietnam, Malaysia, PMIs, Taiwan, Asia

☆ China's factory activity recovery slows in September - Caixin PMI
▼ + stars: | 2023-10-01 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Oct 1 (Reuters) - China's factory activity expanded at a slower pace in September, a private-sector survey showed on Sunday, with sluggish external demand weighing on the outlook even as output increased. The Caixin/S&P Global manufacturing purchasing managers' index (PMI) fell to 50.6 in September from 51.0 in the previous month, missing analysts' forecasts of 51.2. According to the Caixin PMI, factory output and new orders remained in expansionary territory in September, however, external demand remained weak with export orders index contracting for the third month. Producers of consumer, investment and intermediate goods all cut staff, the survey showed. A separate PMI released by Caixin/S&P Global on Sunday showed China's services activity expanded at the slowest pace this year in September.

Persons: Wang Zhe, Wang, Liangping Gao, Ryan Woo, Sam Holmes Organizations: P Global, PMI, Caixin Insight Group . Factory, Producers, Global, Thomson Locations: BEIJING, China

[1/3] Tourists rest on the Bund ahead of the National Day holiday, in Shanghai, China September 26, 2023. China celebrates the Mid-Autumn Festival and National Day from Friday to Oct. 6 in the longest public holiday this year. The China Tourism Academy, part of the Ministry of Culture and Tourism, estimates people will make more than 100 million trips a day during "the most popular Golden Week in history". In 2019, mainland Chinese tourists spent $255 billion abroad, more than any other nationality, with group tours estimated to account for roughly 60% of that total. ($1 = 7.3030 Chinese yuan renminbi)Additional reporting by Wang Tao in Singapore; Editing by Marius Zaharia and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, It's, Joe Zhang, I'm, haven't, Boon Sian Chai, Boon, Cao, Nancy Dai, Zhou Weihong, Wang Zheng, Wang Tao, Marius Zaharia Organizations: Bund, REUTERS, Rights, China Tourism Academy, Ministry of Culture, Trip.com, Spring, Thomson Locations: Shanghai, China, Beijing, Japan, Tourism, Anqing, Anhui, South Korea, United States, ForwardKeys, Thailand, Singapore

☆ China's Aug factory activity picks up unexpectedly - Caixin PMI
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +3 min

A worker wearing a face mask works on a production line manufacturing glassware products at a factory in Haian, Jiangsu province, China February 29, 2020. The Caixin/S&P Global manufacturing purchasing managers' index (PMI) rose to 51.0 in August from 49.2 in July, beating analysts' forecasts of 49.3 and marking the highest reading since February. The data, a snapshot of the sprawling manufacturing economy, surprised to the upside but offered a mixed picture of the sector, a day after an official survey showed manufacturing activity contracted for a fifth straight month. The Caixin manufacturing PMI surveys around 650 private and state-owned manufacturers and focuses more on export-oriented firms in coastal regions, while the official PMI surveys 3,200 companies across China. Manufacturers reported increases in both output and total order intakes thanks to firmer market demand, the Caixin survey showed.

Persons: Wang Zhe, Wang, Ellen Zhang, Ryan Woo, Sam Holmes Organizations: REUTERS, Rights, P Global, Analysts, Manufacturers, Caixin Insight, Thomson Locations: Haian, Jiangsu province, China, Rights BEIJING

☆ China's July services activity expands at quicker pace - Caixin PMI
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Kim Kyung-Hoon/FilesBEIJING, Aug 3 (Reuters) - China's services activity expanded at a slightly faster pace in July, supported by a jump in business in the summer travel season, a private-sector business survey showed on Thursday, partly offsetting the drag from the weak manufacturing sector. The Caixin/S&P Global services purchasing managers' index (PMI) rose to 54.1 in July from 53.9 in June, marking an expansion of business activity across the services sector for the seventh straight month. The data was in contrast to an official survey on Monday which showed services activity has continued to soften. Caixin/S&P's composite PMI, which includes both manufacturing and services activity, fell to 51.9 from 52.5 in June, marking the seventh straight month of expansion. "The uneven recovery of the services and manufacturing industries has been a prominent issue," economist Wang said.

Persons: Kim Kyung, Wang Zhe, Wu, Wang, Ellen Zhang, Ryan Woo Organizations: REUTERS, P Global, Authorities, Caixin Insight Group, Companies, PMI, Thomson Locations: Beijing, BEIJING, Hangzhou

☆ China's July factory activity swings back to contraction - Caixin PMI
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +3 min

BEIJING, Aug 1 (Reuters) - China's factory activity swung to contraction in July, a private sector survey showed on Tuesday, with supply, demand and export orders all deteriorating as firms blamed sluggish market conditions at home and abroad. The Caixin survey showed manufacturing output shrank for the first time in six months while new orders saw the quickest reduction since December. New orders remained unchanged at makers of investment goods, but fell at producers of consumer and intermediate goods. Employment across the manufacturing sector fell for the fifth straight month in July, although the pace of job shedding eased from June. But Wang Zhe, senior economist at Caixin Insight Group, said current monetary settings would only have a limited effect on boosting supply.

Persons: Wang Zhe, Ellen Zhang, Ryan Woo, Sam Holmes Organizations: P Global, PMI, Caixin Insight, Thomson Locations: BEIJING, Beijing, Shenzhen

☆ China's services activity softens as recovery falters - Caixin PMI
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

The data broadly tracked the government's official PMI released last week and showed a slowdown in service sector activity as demand for in-person services weakened. Business activity and new orders both expanded at notably slower rates last month than in May, the Caixin PMI showed. The rate of job creation in the services sector also edged up to a three-month high but remained mild overall. Caixin/S&P's composite PMI, which includes both manufacturing and services activity, fell to 52.5 from 55.6 in May, marking the sixth straight month of expansion. "Meanwhile, the services sector continued a post-COVID rebound, but the recovery was losing steam."

Persons: Wang Zhe, Nomura, Ting Lu, Ellen Zhang, Ryan Woo, Sam Holmes Organizations: P Global, PMI, Employment, Caixin Insight, Thomson Locations: BEIJING, COVID, China

☆ China's services activity softens as recovery falters, private survey shows
▼ + stars: | 2023-07-05 | by ( ) www.cnbc.com time to read: +2 min

China's services activity expanded at the slowest pace in five months in June, a private-sector survey showed on Wednesday, as weakening demand weighed on post-pandemic recovery momentum. The data broadly tracked the government's official PMI released last week and showed a slowdown in service sector activity as demand for in-person services weakened. Business activity and new orders both expanded at notably slower rates last month than in May, the Caixin PMI showed. The rate of job creation in the services sector also edged up to a three-month high but remained mild overall. "Meanwhile, the services sector continued a post-COVID rebound, but the recovery was losing steam."

Persons: Wang Zhe, Nomura, Ting Lu Organizations: P Global, PMI, Employment, Caixin Insight Locations: China, Covid

☆ China's June factory activity slows as conditions weaken - Caixin PMI
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +3 min

BEIJING, July 3 (Reuters) - China's factory activity growth slowed in June, a private sector survey showed on Monday, with sentiment waning and recruitment cooling as firms grew increasingly concerned about sluggish market conditions. The figure, combined with Friday's official survey that showed factory activity extending declines, adds to evidence the world's No. The Caixin manufacturing PMI surveys around 650 private and state-owned manufacturers and, according to economists, focuses more on export-oriented firms in coastal regions, while the official PMI surveys 3,200 companies across China. Markets now anticipate more policy support to bolster a stuttering economic recovery, despite the central bank cutting key lending benchmark rates in June to shore up activity. "Problems reflected in June's Caixin China manufacturing PMI, ranging from an increasingly dire job market to rising deflationary pressure and waning optimism, also point to the same conclusion."

Persons: Wang Zhe, Ellen Zhang, Ryan Woo, Sam Holmes Organizations: P Global, Caixin Insight, PMI, Companies, State Council, Thomson Locations: BEIJING, China, June's

☆ China's factory activity grew more slowly in June, Caixin survey shows
▼ + stars: | 2023-07-03 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

China's factory activity grew more slowly in June, a private-sector survey showed on Monday, corroborating official data last week that pointed to stuttering growth in the world's second-largest economy. The Caixin/S&P Global manufacturing purchasing managers' index slipped to 50.5 in June from 50.9 in May. China's National Bureau of Statistics released data last Friday that showed the country's official manufacturing PMI coming in at 49.0 in June — compared with 48.8 in May. "Problems reflected in June's Caixin China manufacturing PMI, ranging from an increasingly dire job market to rising deflationary pressure and waning optimism, also point to the same conclusion." The Caixin manufacturing PMI surveys around 650 private and state-owned manufacturers that tend to be more export-oriented and located in China's coastal regions, while the official PMI surveys 3,200 companies across China.

Persons: —, Wang Zhe Organizations: P Global, National Bureau of Statistics, Caixin Insight, PMI Locations: June's, China

☆ China's services activity picks up in May on improved demand- Caixin PMI
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

BEIJING, June 5 (Reuters) - China's services activity picked up in May, a private-sector survey showed on Monday, as a rise in new orders shored up a consumption-led economic recovery in the second quarter. The reading contrasts with the official PMI released last week that showed a slower pace of expansion in the services sector. The Caixin survey showed service companies reported a rise in new business last month when the first May Day holiday following China's COVID reopening boosted orders for hotels, restaurants and travel agencies. Caixin/S&P's composite PMI, which includes both manufacturing and services activity, picked up to 55.6 from 53.6 in April, marking the quickest expansion since December 2020. "This divergence highlights that economic growth is lacking internal drive and market entities lack sufficient confidence, underscoring the importance of expanding and restoring demand," he said.

Persons: shored, Wang Zhe, Ellen Zhang, Ryan Woo, Sam Holmes Organizations: P Global, PMI, Caixin Insight, Thomson Locations: BEIJING, Beijing

☆ Asia's factories struggle for momentum amid patchy recovery
▼ + stars: | 2023-06-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

"The PMI surveys suggest that China's economic recovery was still ongoing in May, albeit at a slower pace. China's Caixin/S&P Global manufacturing PMI rose to 50.9 in May from 49.5 in April, above the 50-point index mark that separates growth from contraction. Vietnam, Malaysia and Taiwan also saw factory activity shrink in May, while that of the Philippines expanded, the surveys showed. Asia's economy is heavily reliant on the strength of China's recovery, which has been uneven with services spending outperforming activity in export-oriented sectors. In forecasts released in May, the International Monetary Fund said it expects Asia's economy to expand 4.6% this year after a 3.8% gain in 2022, contributing around 70% of global growth.

Persons: Julian Evans, Pritchard, Wang Zhe, Leika Kihara, Sam Holmes Organizations: PMI, Capital Economics, P Global, Caixin Insight, Jibun, International Monetary Fund, Thomson Locations: South Korea, Vietnam, Taiwan, TOKYO, China, Japan, Asia, South, Malaysia, Philippines

☆ China's factory activity swings to surprise growth in May - Caixin PMI
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +3 min

The Caixin/S&P Global manufacturing purchasing managers' index (PMI) rose to 50.9 in May from 49.5 in April, above the 50-point index mark that separates growth from contraction. The reading surpassed expectations of 49.5 in a Reuters poll, a stark contrast to a deeper contraction activity seen in the official PMI released on Wednesday. The manufacturing subindexes showed factory output rose at the fastest clip in 11 months while new orders including new exports expanded in May. However, business confidence for the coming 12 months fell to a seven-month low amid concerns over global economic prospects. "Current economic growth lacks internal drive and market entities lack sufficient confidence, highlighting the importance of expanding and restoring demand, " said Wang Zhe, Senior Economist at Caixin Insight Group.

Persons: Zhou Hao, Hang, Wang Zhe, 25bps, Liangping Gao, Joe Cash, Ryan Woo, Sam Holmes, Simon Cameron, Moore Organizations: P Global, PMI, Guotai, CSI, Caixin Insight, ANZ, Thomson Locations: BEIJING, China

☆ China's service sector remains a bright spot as factory data disappoints, Caixin reading shows
▼ + stars: | 2023-05-05 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

China's services activity remained well within growth territory in April as a private survey showed a softer reading from March. Atlantide Phototravel | Corbis Documentary | Getty ImagesChina's services activity remained well within growth territory in April, even as a private survey showed a softer reading compared with March. The latest Caixin reading suggests that services activity is still "undergoing a fast recovery," according to Wang Zhe, senior economist at Caixin Insight Group. The continued expansion in China's services activity stood in contrast to the disappointing factory activity reported earlier in the week. "It is worth noting that manufacturing and services activity diverged, with employment and input costs in the manufacturing sector contracting significantly," Wang wrote.

☆ China's services activity expands as consumers return - Caixin PMI
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +2 min

The figure echoed the official PMI released on Sunday, which showed a slightly slower pace of growth. The world's second-biggest economy is facing an uneven recovery and some persistent headwinds, with strong activity in services and a contraction in manufacturing. Surveyed services firms' production activity and new orders including new export order expanded for the fourth consecutive month in April. Caixin group attributed the rise in activity to the return to more normal operating conditions as the impact of COVID-19 continued to fade. Caixin/S&P's composite PMI, which includes both manufacturing and services activity, fell to 53.6 from 54.5 in March, marking the fourth straight month expansion.

☆ China's factory activity skids in April on weak demand - Caixin PMI
▼ + stars: | 2023-05-04 | by ( Reuters Staff | ) www.reuters.com time to read: +3 min

BEIJING (Reuters) - China’s factory activity unexpectedly dipped in April, a private sector survey showed on Thursday, due to softer domestic demand and suggesting the manufacturing sector is losing momentum amid a bumpy post-COVID economic recovery. FILE PHOTO: Employees work on a production line manufacturing metal parts for furniture at a factory in Hangzhou, Zhejiang province, China April 30, 2020. China Daily via REUTERSThe Caixin/S&P Global manufacturing purchasing managers’ index (PMI) fell to 49.5 in April from 50.0 the previous month prior. The reading echoes a similarly disappointing official PMI released on Sunday and reflects the uneven nature of China’s economic recovery, with services consumption, a key growth driver in the first quarter, outperforming manufacturing. “This suggests that China’s economic recovery significantly slowed after COVID-19 infections peaked at the start of this year,” said Wang Zhe, economist at Caixin Insight Group.

CNN —China is making “significant progress” building the country’s fifth research facility in Antarctica after a several years-long lull in construction, according to a report by the Center for Strategic and International Studies (CSIS). The site – a research station China has hailed as a means to expand its scientific investigation in the Antarctic – could also be used to enhance the country’s intelligence collection, according to CSIS. In February 2020, a team of US inspectors visited the station, where they were hosted by station leader Wang Zhechao of the Polar Research Institute of China. China has established four scientific research bases in Antarctica since 1984, according to the Chinese Academy of Sciences. Under the 1959 treaty Antarctic Treaty, to which China is party, activities on the continent are restricted to “peaceful purposes.”Military personnel are allowed to conduct scientific research, but may not set up bases, test weapons of carry out maneuvers.

☆ China's March factory activity growth falters on weaker demand, survey shows
▼ + stars: | 2023-04-03 | by ( ) www.cnbc.com time to read: +1 min

Employees work on an electronics production line on Feb. 2, 2023, at a factory in Longyan, Fujian province in China. China's factory activity growth stalled in March, weighed by slowing production and weaker global demand and adding to uncertainty about a post-Covid recovery, a private sector survey showed on Monday. The reading far missed expectations of 51.7 in a Reuters poll, and echoed slower growth in an official PMI released on Friday. However, a property downturn, weaker global demand and financial uncertainty raised doubts about the strength of momentum. Looking forward, economic growth will still rely on a boost in domestic demand, especially an improvement in household consumption," said Wang Zhe, Senior Economist at Caixin Insight Group.

☆ Asia's factory activity weakens as global demand falters
▼ + stars: | 2023-04-03 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

"With global growth set to remain weak in the coming quarters, we expect manufacturing output in Asia to remain under pressure," said Shivaan Tandon, emerging Asia economist at Capital Economics. South Korea's PMI fell to 47.6 in March from 48.5 in February, contracting at the fastest pace in six months as export orders took a hit from weak global demand. Vietnam and Malaysia saw factory activity shrink in March, while that of the Philippines expanded at a slower pace than in February, surveys showed. While indications are that the U.S. Federal Reserve will pause its tightening cycle soon, the outlook remains clouded by the banking-sector troubles, still-high inflation and slowing global growth. "Given much of the drag from higher interest rates is yet to feed through to advanced economies, we expect global growth and demand for Asia's exports to remain weak in the coming quarters," Capital Economics' Tandon said.

☆ China's March factory activity growth falters on weaker demand - Caixin PMI
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

BEIJING, April 3 (Reuters) - China's factory activity growth stalled in March, weighed down by slowing production and weaker global demand and adding to uncertainty about a post-COVID recovery, a private sector survey showed on Monday. The reading far missed expectations of 51.7 in a Reuters poll, and echoed slower growth in an official PMI released on Friday. However, a property downturn, weaker global demand and financial uncertainty raised doubts about the strength of the rebound. The factory activity was hit by slower growth in production and demand in March with sub-indexes both falling from the previous month. The new export orders sub-index fell to 49.0 after briefly swinging into growth in February, suggesting global demand remains weak.

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