Chinese economy slows down, but remains steady

Edited and translated by People's Daily Online

China's Purchasing Managers' Index (PMI), a main gauge of manufacturing activity, dropped to 49 percent in November, falling below 50 percent for the first time since March 2009, according to statistics released on Dec. 1.

The decline indicates a further slowdown in China's economic growth. Industry insiders believe that the pace of the economic slowdown will remain steady, and the chance of a sharp fluctuation is slim.

"The PMI dropped below 50 percent in November, indicating a further slowdown in China's economic growth. As domestic investment has maintained relatively rapid growth and domestic consumption has been growing slowly yet steadily, the pace of the economic slowdown will remain steady, and there is little likelihood of a slump," said Zhang Liqun, a researcher at the Development Research Center of the State Council.