China manufacturing activity rebounds in January [Agence France-Presse]

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China’s factory activity expanded in January after four months of contraction, official data showed Tuesday, as its economy rebounded following the relaxation of strict Covid-19 curbs.

The official manufacturing purchasing managers’ index (PMI) — a key gauge of factory output in the world’s second-largest economy — rose to 50.1 this month, from 47.0 in December, according to data from the National Bureau of Statistics (NBS).

The figures bucked a downward trend since September and broke into expansion territory of above 50 points.

The non-manufacturing PMI, which includes the services and construction sector, stood at 54.4 in January, up from 41.6 in December.

Beijing last month abruptly dropped its strict zero-Covid policy, which had mandated strict lockdowns, sparking protests and hammering business.

The country’s economy grew just three percent last year — its slowest pace in four decades excluding pandemic-hit 2020 — as Covid restrictions and a crisis in the property market hampered growth.

Read more: China manufacturing activity rebounds in January [Agence France-Presse]

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China’s services trade up 12.9 pct in 2022 [Xinhua News]

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BEIJING , Jan. 30 ( Xinhua ) — China’s services trade value grew 12.9 percent year on year in 2022, data from the Ministry of Commerce showed on Monday.

The total trade value stood at 5.98 trillion yuan (about 884.29 billion U.S. dollars ), according to the data.

Exports of services expanded 12.1 percent year on year to around 2.85 trillion yuan in the period, while imported services totaled 3.13 trillion yuan , up 13.5 percent from a year ago, resulting in a deficit of 275.71 billion yuan .

Trade in knowledge-intensive services raked in 2.51 trillion yuan in 2022, up 7.8 percent year on year.

Exports of Knowledge-intensive services increased by 12.2 percent to reach 1.42 trillion yuan , led by categories such as intellectual property royalties and computing and information services.

Travel services continued recovery momentum in the period, as trade in this sector advanced 8.4 percent from the previous year to about 855.98 billion yuan , data showed.

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Narrations are not endorsements.

Past performance is not a reliable indicator of future results.

China’s central bank continues to add liquidity via reverse repos [Xinhua News]

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BEIJING , Jan. 30 ( Xinhua ) — China’s central bank continued to inject funds into the financial system through open market operations on Monday.

The People’s Bank of China said on its website that it has conducted 173 billion yuan (about 25.58 billion U.S. dollars ) of seven-day reverse repos at an interest rate of 2 percent.

The move is aimed at keeping liquidity stable at the end of the month, according to the central bank.

A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

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Past performance is not a reliable indicator of future results.

Industrial production in China up 5% on year in October [Agence France-Presse]

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China October retail sales, industrial output miss expectations [Agence France-Presse]

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This article does not constitute investment advice or a personal recommendation. You should not make any investment decisions without first conducting your own research and considering your own financial situation.

Past performance is not a reliable indicator of future results.

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UK’s new PM heads to G20 with veiled attack on China [Agence France-Presse]

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This article does not constitute investment advice or a personal recommendation. You should not make any investment decisions without first conducting your own research and considering your own financial situation.

Past performance is not a reliable indicator of future results.