Latest news with #ZhaoQinghe
Fibre2Fashion
19 hours ago
- Business
- Fibre2Fashion
China's manufacturing PMI rises to 49.5 in May from 49 in Apr 2025
China's purchasing managers' index (PMI) in manufacturing sector was 49.5 in May—up by 0.5 percentage point (pp) from the April figure, data from the National Bureau of Statistics (NBS) showed. The figure remained in contraction for a second consecutive month in May. China's manufacturing PMI was 49.5 in Mayâ€'up by 0.5 pp from the April figure; this was contraction for the second month in a row. The uptick was mainly backed by a supply recovery, with improvement in the production sub-index. Manufacturers expressed optimism and confidence, with the gauge for manufacturers' expectations for production and operation standing at 52.5 in May versus 52.1 in April. The uptick was primarily backed by a recovery in supply, with improvement in the sub-index for production, NBS statistician Zhao Qinghe explained. The sub-index for production was 50.7 in May versus 49.8 in April, while the gauge for new orders came in at 49.8 in May—up from 49.2 in April. Chinese manufacturers expressed optimism and confidence, with the gauge for manufacturers' expectations for production and operation standing at 52.5 in May versus 52.1 in April, state-controlled media outlets reported. The country's official composite PMI, which encompasses both manufacturing and non-manufacturing activities, rose from 50.2 in April to 50.4 in May. Fibre2Fashion News Desk (DS)
Time of India
3 days ago
- Business
- Time of India
China manufacturing shrinks in May despite trade war truce
China's manufacturing activity shrank in May for the second month running, official data showed Saturday, despite Beijing reaching a temporary ceasefire in a blistering trade war with the United States. Beijing and Washington agreed this month to pause staggeringly high tariffs, although US President Donald Trump on Friday accused China of breaching the de-escalation deal. While the two sides reached a temporary truce in mid-May, China recorded a contraction in factory output for the month. The Purchasing Managers' Index -- a key measure of industrial output -- came in at 49.5, according to the National Bureau of Statistics (NBS). The reading was up from April's 49 but fell short of the 50-point mark that separates growth and contraction. China's overall economic output in May "continued to expand", NBS statistician Zhao Qinghe said in a statement. According to some "US-related enterprises", foreign trade orders "restarted at an accelerated pace, and import and export conditions improved", Zhao added. The non-manufacturing PMI, which measures activity in the services sector, came in at 50.3, down from April's 50.4. Chinese leaders are aiming for economic growth this year of five percent, a goal considered ambitious by many economists as the country battles weak domestic consumption. Zhang Zhiwei, president and chief economist at Pinpoint Asset Management, said "economic momentum is stable" although companies are operating in a challenging environment. "Firms in China and the US with exposure to international trade have to run their business under persistently high uncertainty," he wrote in a note. Although Beijing and Washington agreed this month to pause steep levies for 90 days, the two sides already appeared deadlocked in negotiations. Trump argued Friday that Beijing had "totally violated" the bilateral deal, without providing details. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Malay Mail
3 days ago
- Business
- Malay Mail
China's manufacturing contracts again in May despite trade war truce, as Trump accuses Beijing of deal violation
BEIJING, May 31 — China's manufacturing activity shrank in May for the second month running, official data showed today, despite Beijing reaching a temporary ceasefire in a blistering trade war with the United States. Beijing and Washington agreed this month to pause staggeringly high tariffs, although US President Donald Trump yesterday accused China of breaching the de-escalation deal. While the two sides reached a temporary truce in mid-May, China recorded a contraction in factory output for the month. The Purchasing Managers' Index — a key measure of industrial output — came in at 49.5, according to the National Bureau of Statistics (NBS). The reading was up from April's 49 but fell short of the 50-point mark that separates growth and contraction. China's overall economic output in May 'continued to expand', NBS statistician Zhao Qinghe said in a statement. According to some 'US-related enterprises', foreign trade orders 'restarted at an accelerated pace, and import and export conditions improved', Zhao added. The non-manufacturing PMI, which measures activity in the services sector, came in at 50.3, down from April's 50.4. Chinese leaders are aiming for economic growth this year of five per cent, a goal considered ambitious by many economists as the country battles weak domestic consumption. Zhang Zhiwei, president and chief economist at Pinpoint Asset Management, said 'economic momentum is stable' although companies are operating in a challenging environment. 'Firms in China and the US with exposure to international trade have to run their business under persistently high uncertainty,' he wrote in a note. Although Beijing and Washington agreed this month to pause steep levies for 90 days, the two sides already appeared deadlocked in negotiations. Trump argued yesterday that Beijing had 'totally violated' the bilateral deal, without providing details. — AFP
Yahoo
3 days ago
- Business
- Yahoo
China's factory activity contracts in May, but there are signs of improvement
BEIJING (AP) — China's factory activity contracted in May, according to an official survey released on Saturday, although the decline slowed from April as the country reached a deal with the U.S. to slash President Donald Trump's sky-high tariffs. China's purchasing managers index rose from 49.0 in April to 49.5 in May, the National Bureau of Statistics said. PMI is measured on a scale from 0 to 100, where 50 marks the cutoff between expansion and contraction. Meanwhile, the manufacturing index showed growth in the sector, although the index measuring new orders remained under 50 despite some improvement. National Bureau of Statistics senior statistician Zhao Qinghe said some companies with U.S. business reported accelerated resumption of foreign trade orders, and there was an improvement in import and export conditions. The U.S.-China deal, reached earlier this month, cuts Trump's tariffs from 145% to 30% for 90 days, creating time for negotiators from both sides to reach a more substantive agreement. China also reduced its taxes on U.S. goods from 125% to 10%. But the remaining tariffs are still higher than they were before Trump took office, and businesses and investors face uncertainty about whether the truce will last. Trump said Friday that he will no longer be 'Mr. NICE GUY' with China on trade, declaring in a social media post that the country had broken an unspecified agreement with the United States. He later said in the Oval Office that he will speak with Chinese President Xi Jinping and 'hopefully we'll work that out,' while still insisting China had violated the agreement. Over the past week, tensions between Beijing and Washington also intensified after the U.S. said it would start revoking visas for Chinese students studying in the country. China has lodged a protest with the U.S. over the matter, calling the decision unreasonable.
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First Post
01-05-2025
- Business
- First Post
US 'proactively' reaching out to Beijing for tariff talks: Chinese state media
Beijing has made a list of US goods that would be exempted from its 125 per cent tariffs and has been quietly notifying its companies about the development read more Shipping containers are seen at Pyeongtaek port in Pyeongtaek, South Korea. Reuters The United States has been contacting China to chalk out a trade deal to mitigate the effects of Trump's tariffs that have already tossed global markets around. Chinese state media on Thursday said that Washington was 'proactively' reaching out to China via 'multiple channels' for talks on the tariffs. 'From a negotiation standpoint, the US is currently the more anxious party,' Yuyuan Tantian, a Chinese outlet linked to state broadcaster CCTV, said. STORY CONTINUES BELOW THIS AD It added that the Trump administration is facing 'multiple pressures' owing to his tariffs. At the same time, Beijing has repeatedly urged the United States to engage in dialogue in a 'fair, respectful and reciprocal' manner. China creates a list Meanwhile, Beijing has made a list of US goods that would be exempted from its 125 per cent tariffs and has been quietly notifying its companies about the development, sources have told Reuter__s. The quiet approach allows Beijing, which has repeatedly said it is willing to fight till the end unless the US lifts its 145 per cent tariffs, to maintain its public messaging while privately taking practical steps to provide concessions. It is, however, not clear which products have been put on the list as authorities have not made it public yet. Companies are being privately contacted by authorities and notified of the existence of a list of product classifications that would be exempted from the tariffs, according to one of the sources who works at a drug company selling US-made medicines in China. China's factory output shrinks China's factory activity shrank this month, official data showed Wednesday, with Beijing blaming a 'sharp shift' in the global economy as it fights a mounting trade war with the United States. The reading for April was down from March's 50.5, which was the highest in 12 months, and represented a steeper decline than the 49.7 forecast in a Bloomberg survey. 'In April, affected by factors such as a high base from earlier rapid manufacturing growth and a sharp shift in the external environment, the manufacturing PMI fell,' NBS statistician Zhao Qinghe said in a statement. STORY CONTINUES BELOW THIS AD With inputs from agencies
