January 30, 2023

Dubai Week

Complete Dubai News World

Emirates News Agency – Factory operations resumed in China in May

BEIJING, May 31 / WAM / China’s factories’ operations resumed in May, with production gradually resuming in some areas recently affected by the renewed spread of Govt-19, including Shanghai.

Data from the National Bureau of Statistics today recorded 49.6 points, higher than the forecast of 48.6 points in May.

Although the index is still shrinking, it is up 2.2 percentage points from April 2020, the lowest level since April 2020.

Of the 21 businesses surveyed, 12 saw their PMI score above 50 in May, indicating an expansion in business activity.

The Manufacturing Support Index recorded 49.7 points this month, up 5.3 percentage points from April, while the new orders index rose to 48.2 points from 42.6.

These results indicate that industrial production and demand have recovered to varying degrees, but the pace of recovery needs to be strengthened, said Zhao Kinghe, a statistician with the National Bureau of Statistics.

According to the National Bureau of Statistics, the non-manufacturing sector increased by 5.9 percentage points to 47.8.

It is noteworthy that since last March, the Govt-19 wave, which has spread across China, has reduced trade and production activity in the northeastern province of Jilin and in the Yangtze River Delta, where Shanghai and the capital Beijing are located. Closed administration, as the situation gradually improved, in May, antiviral measures were relaxed and production resumed gradually in some places.

The Shanghai municipal government has said that through routine preventive and control measures against the corona virus from June 1 to mid-June, the city of 25 million people will gradually restore normalcy of production and life throughout the city.

See also  Turkish central bank publishes interest rate decision, talks about the future through Investing.com

The Chinese government has announced more bonds to finance $ 21 billion in tax cuts and infrastructure spending.

WAM / China / Mustafa Badr Al-Din