China’s manufacturing sector registered accelerated expansion in November thanks to government policy support, data from the National Bureau of Statistics (NBS) showed on Saturday.<\/p>\n\n\n\n
The purchasing managers’ index (PMI) for China’s manufacturing sector came in at 50.3 in November, up from 50.1 in October, according to the NBS.<\/p>\n\n\n\n
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.<\/p>\n\n\n\n
China’s manufacturing sector saw accelerated expansion in November as a series of incremental policies and existing policies gradually took effect, according to NBS statistician Zhao Qinghe.<\/p>\n\n\n\n
Both supply and demand in the manufacturing sector saw recovery in November, with the sub-indices for production and new orders rising to 52.4 and 50.8, respectively, Zhao said.<\/p>\n\n\n\n
Notably, the general equipment and automotive industries reported rapid expansion, with their production and new order sub-indices coming in above 54.<\/p>\n\n\n\n
NBS data also showed that key sectors such as high-tech manufacturing and consumer goods, as well as equipment manufacturing, continued to perform stably and positively.<\/p>\n\n\n\n
Market sentiment continued to improve in November, with the business expectation index rising to 54.7, reflecting growing confidence among manufacturers.<\/p>\n\n\n\n
Saturday’s data also showed that the non-manufacturing PMI came in at 50 in November, down from 50.2 in October, and the general PMI stood at 50.8, unchanged from October.<\/p>\n\n\n\n
The business expectation index for the services sector remained at a high level of 57.3 in November, while that for the construction sector rose to 55.6, indicating improved market sentiment in both sectors, according to the NBS.<\/p>\n\n\n\n
Since September, various government departments have introduced significant incremental policies aimed at bolstering economic growth.<\/p>\n\n\n\n
These measures focused on five key areas: enhancing macroeconomic countercyclical adjustment, expanding effective domestic demand, increasing support for enterprises, stabilizing the real estate market, and boosting the capital market.<\/p>\n\n\n\n
As the benefits of the incremental policy package and existing policies unfold, there has been a boost to economic vitality, optimized industrial structures and enterprise confidence, said Wen Tao, an analyst at the China Logistics Information Center.<\/p>\n\n\n\n
On the whole, positive changes have continued to accumulate, and China’s current economic recovery has been consolidated further, Wen said.<\/p>\n\n\n\n