HSBC: China's manufacturing growth slows in February

10:39, March 02, 2010      

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The Hong Kong and Shanghai Banking Corporation Limited (HSBC) released a report yesterday that although China's manufacturing growth fell to the lowest level in February over 3 months, the positive trend of operation would not change.

HSBC pointed out that China's manufacturing output in February increased for the 11th consecutive month, while its growth rate fell back to the lowest level since last November, but it was still considered significant. Chinese manufacturing firms indicated that their new businesses still had further growth, and the rise in new orders was related to strengthened customer demand.

China's manufacturing export growth showed that the economic environment for a number of China’s important trading partners improved, HSBC analyzed.

Prices of products in the manufacturing industry rose in February, but much lower than last month, according to the survey by HSBC. Manufacturers lifting the ex-factory prices of products said that the price rise was mainly due to the increasing prices of a series of raw materials like aluminum, coal, oil, steel and others.

Qu Hong-Bin, the chief economist of HSBC China, noted that China's manufacturing industry increased at a slower level, however, the growth momentum still indicated that industrial activity would further accelerate in the next few quarters.

By People's Daily Online
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