Latest News:  
Beijing   Cloudy/Overcast    0 / 5   City Forecast

People's Daily Online>>China Business

Decline in orders slows China's manufacturers (2)

By Wang Yanlin (Xinhua)

15:22, December 02, 2011

China's exports grew at the slowest pace in eight months in October, the latest figures available, and may continue to deteriorate, analysts said.

Meanwhile, the HSBC China Manufacturing Purchasing Managers' Index, slanted more towards private and export-oriented firms, dropped to a 32-month low of 47.7 in November, down from 51 in October.

"The reading points to a sharp deterioration in business conditions across the manufacturing sector," said Qu Hongbin, chief economist for China at HSBC. "Combined with a faster than expected easing in inflation, this implies that growth is set to overtake inflation as China's top policy concern."

On Wednesday, the central bank announced its first cut in banks' reserve requirement ratio in three years, injecting up to 400 billion yuan (US$62.7 billion) into the banking system.

Analysts treated the cut as a signal of broader policy fine-tuning to sustain China's economic growth, which slowed to 9.1 percent in the third quarter from 9.5 percent in the second and 9.7 percent in the first three months.

Earlier this week, two major financial institutions cut their forecast of China's economic growth next year.

UBS AG said it may expand 8 percent, down from a previous estimate of 8.3 percent, while Citigroup Inc lowered its forecast to 8.4 percent from a previous 8.7 percent.

【1】 【2】

We Recommend


Related Reading

Leave your comment0 comments

  1. Name


Selections for you

  1. Heaven of Birds - Momoge Nature Reserve

  2. China launches 10th satellite

  3. Snow scenery at Tianmen Mountain

  4. Active-service aircraft carriers

Most Popular


  1. World needs safety net against euro crisis
  2. US-Pakistan anti-terrorism coalition close to collapse
  3. China's schools on the way up
  4. What is to be done with Syria?
  5. UK mass strike shows steep learning curve
  6. China-Myanmar ties challenged by US moves
  7. China and India mustn't go for the throat
  8. Germany needs wisdom to save euro
  9. Egypt's chaos: No end in sight
  10. Chinese still swarm to hard-hit Wall Street

What's happening in China

Passengers swipe identity cards to enter Nanjing Railway Station

  1. Amateur comic acts up over stage ban
  2. First snow falls in Beijing
  3. Sex-worker brides bring HIV across the border
  4. Beijing police crack down on black jails
  5. China's 2011 grain output exceeds 571 mln tonnes

PD Online Data

  1. The lion dance in Guangzhou
  2. The flower fair in Guangzhou
  3. Lion dances pay New Year calls in Guilin
  4. Jiangsu´s special New Year traditions
  5. Hakka traditions in Spring Festival