A gauge of China’s manufacturing sector jumped unexpectedly last month, signaling a recovery in activity amid government support and a stabilizing global economy.
The official manufacturing purchasing managers’ index rose to 50.2, Chinese National Bureau of Statistics data released yesterday showed.
That was the first reading above 50 since April, indicating an expansion in output. The non-manufacturing gauge was 54.4, the highest since March.
The surprise improvement offered a glimmer of hope that China’s economy might be able to hold in check its slide toward growth of less than 6 percent.
Still, the industrial sector faces a host of headwinds including deflationary risks and rising borrowing costs, with household consumption also being squeezed by increasing food prices.
“Whether a single-month data can signal stabilization is questionable and economic indicators are contradictory,” said Nie Wen (聶文), an economist at Huabao Trust Co (華寶信託) in Shanghai. “It may foreshadow an improving trend, but it’ll be moderate and any solid improvement would have to wait till at least the first quarter of 2020.”
While China and the US are still thrashing out details of an interim trade deal, Beijing faces the possibility that US President Donald Trump will impose tariffs on more Chinese imports on Dec. 15.
A subindex of new export orders climbed to a seven-month high of 48.8 on easing trade tension, but was still in contraction, the data showed.
Businesses showed across-the-board improvement regardless of size, although small and medium-sized enterprises are still shrinking, while employment at factories remained unchanged at 47.3, the data showed.
While more policy easing measures would be necessary to maintain stable growth next year, Chinese authorities might want to adjust the pace until the outlook becomes clearer.
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
CHINA REACTS: The patrol and reconnaissance plane ‘transited the Taiwan Strait in international airspace,’ the 7th Fleet said, while Taipei said it saw nothing unusual The US 7th Fleet yesterday said that a US Navy P-8A Poseidon flew through the Taiwan Strait, a day after US and Chinese defense heads held their first talks since November 2022 in an effort to reduce regional tensions. The patrol and reconnaissance plane “transited the Taiwan Strait in international airspace,” the 7th Fleet said in a news release. “By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations.” In a separate statement, the Ministry of National Defense said that it monitored nearby waters and airspace as the aircraft
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source