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China's economic growth well on recovery track


13:30, November 26, 2012

A worker of a company processes galvanized products in Qingdao, east China's Shandong Province, Nov. 1, 2012. (Xinhua/Yu Fangping)

BEIJING, Nov. 26 (Xinhuanet) -- The HSBC Flash China Manufacturing Purchasing Managers' Index (PMI), a measure of factory activities, shot up to 50.4 in November from 49.5 in October, according to figures released by HSBC.

It is the first time the non-official index jumped back to the expansionary territory in 13 months, as a reading above 50 suggests expansion, while a reading below 50 indicates contraction.

The rise is consistent with the Chinese official PMI, which rose to 50.2 percent in October from 49.8 percent in September.

Experts, taking this as a latest sign of recovery, say that China's economy is on the track of modest rebound and that the growth in the remainder of the year will be more robust so that it is all but certain the economic target set for 2012 will be achieved.

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