Manufacturing Improving But Still Contracting
HSBC's China manufacturing purchasing managers index rose to 49.7 in February, up from 48.8 in January. Despite the increase, the preliminary reading still indicates a contracting manufacturing sector.
Industrial Output Nears ¥19t
China's total industrial output expanded 10.7% to ¥18.86 trillion in 2011, the National Bureau of Statistics said. Gross industrial profits grew 25.4% to ¥5.45 trillion.
Nonconventional Material Industrial Output to Top ¥2t by 2015
Output from China's nonconventional material industry is expected to grow 25% annually to ¥2 trillion by the end of 2015, according to a five-year plan released by the Ministry of Industry and Information Technology.
$1 = ¥6.3