China Economic Watch: Manufacturing Improving But Still Contracting

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