BEIJING—China’s factory activity unexpectedly accelerated in December, but only by a slim margin, an official survey on Friday showed, with analysts foreseeing more economic headwinds in the near term and policymakers being pressured to offer support measures. The official manufacturing Purchasing Managers’ Index (PMI) rose to 50.3 from 50.1 in November, data from the National Bureau of Statistics (NBS) showed. Analysts had expected it to fall slightly to the 50-point mark, which separates growth from contraction. The world’s second-largest economy has lost steam since the early summer after rebounding from last year’s pandemic slump, weighed down by a slowing manufacturing sector, debt problems in the property market, carbon emissions-related curbs, and COVID-19 outbreaks. Next year, China will face “unprecedented” difficulty in stabilizing trade, Vice Commerce Minister Ren Hongbin warned on Thursday, as production capacity in other exporting countries recovers from COVID-induced shocks and competes with Chinese exports. “Looking to January, …
RSS Feed | The Epoch Times