China’s Factory Activity Increases with Rise in Orders

Chinese factory activity saw its first expansion in eight months in December, with the official purchasing managers index (PMI) rising to 50.1, signaling growth. This uptick was attributed to increased orders prior to holidays and easing trade tensions with the US. Despite overall growth, small and mid-sized enterprises remain contracted, and consumer spending has declined, indicating underlying economic challenges. President Xi Jinping emphasized the need for high-quality development and positive macroeconomic policies amidst these conditions.

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