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在线翻译:
szdaily -> Business_Markets -> 
Factory growth at 8-month high
    2018-06-01  08:53    Shenzhen Daily

CHINA’S vast manufacturing sector grew at the fastest pace in eight months in May, blowing past expectations and easing concerns about an economic slowdown even as risks from trade tensions with the United States and a crackdown on debt point to a bumpy ride ahead.

The official Purchasing Managers’ Index (PMI) released Thursday rose to 51.9 in May, from 51.4 in April, and remained well above the 50-point mark that separates growth from contraction for the 22nd straight month.

Analysts surveyed had forecast the reading would dip slightly to 51.3.

Production expanded at the fastest rate in six months in May, while growth in new orders rose to an 8-month high, helped by rising commodities prices.

The strong manufacturing sector readings defy concerns about an expected loss of momentum in the world’s second-biggest economy, as policymakers navigate debt risks and rocky trade relations with the United States.

In particular, export orders improved from the previous month. Some economists suspect that Chinese firms have been front-loading shipments due to the Sino-U.S. trade frictions.

The government has been tightening controls on riskier investments, the shadow banking business and speculation in the property sector, but has been keen to keep the broad economy well funded.

The industrial sector, a key source of jobs, remained in healthy shape, with profits growing at their fastest pace in six months, underpinned by continued strength in the steel sector.

But the latest survey showed that more manufacturers were concerned about tightening in funding over recent months, with 40.1 percent of all firms polled raising the issue in May, according to Zhao Qinghe, an official with the statistics bureau.

“Big cost pressure is still one of the major problems facing Chinese manufacturers these days,” said Zhao.

Activity of small firms contracted in May after expanding the previous month while both big and medium-sized companies all posted positive growth.

(SD-Agencies)

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