Manufacturing growth slower in September
China’s manufacturing manufacturing sector expanded expanded at a slower at a slower pace pace in September, in September, partly due partly to due weakened to weakened export export performance, perfor- official mance, data offi showed cial data on showed Sunday. on Sunday.
The country’s manufacturing manufacturing purchasing purchasing managers managers index index came came in at in 50.8 at 50.8 in September, in narrowing narrowing from from 51.3 51.3 in August, in August, according according to the to National the National Bureau of Bureau Statistics. of Statistics. Despite a slowdown in growth, Despite this a is slowdown the 26th consecutive in growth, month this is that the the 26th official consecutive manufacturing month that PMI the offi stayed cial above manufacturing 50. A reading PMI stayed above 50 above indicates 50. A expansion reading above while a 50 reading indicates below expansion reflects contraction. while a reading below reflects “Production contraction. continued to expand, “Production while market continued demand to remained expand, generally while market stable,” demand said NBS remained senior statistician generally stable,” Zhao Qinghe. said NBS senior statistician The subindex Zhao Qinghe. for production The edged subindex down from for production 53.3 in August edged to 53 down in September, from 53.3 in while August the subindex to 53 in September, for new orders while dipped the subindex from 52.2 for in new August orders to 52 in dipped September. from 52.2 Sunday’s in August data came to as 52 China in September. works to upgrade its sprawling Sunday’s manufacturing data came sector as China in the works face of to ongoing upgrade China-US its sprawling trade tensions. manufacturing sector “Though in the the face growth of ongoing of China-US manufacturing trade tensions. activity slowed, “Though China’s the economic growth fundamentals of manufacturing remain healthy. The activity fact slowed, that manufacturing China’s economic has been fundamentals expanding for remain more than healthy. two The years fact underlines that manufacturing the resilience of has China’s been industrial expanding sector for in more challenging than two times,” years said underlines Qu Xianming the resilience of the of National China’s industrial Manufacturing sector in Strategy challenging Advisory times,” Committee said Qu think Xianming tank. of the National Manufacturing As companies scramble Strategy to realize Advisory Committee innovation-driven think expansion tank. and embrace automation As companies and digital scramble technologies to realize to improve innovation- plants driven and management, expansion they and will embrace be in a better automation position and to handle digital risks, technologies Qu said, adding to improve that there plants is no and need management, to worry about they China’s will be in economy. a better position to handle The NBS risks, data Qu show said, adding that large that scale there companies is no maintained need to worry sound about momentum China’s in September, economy. with their PMI index The standing NBS data at show 52.1, that the same large level scale as companies last month. maintained According sound to momentum Qu, more in effort September, is needed with to help their small PMI and index medium-sized standing at enterprises 52.1, the same level as last month.
According to Qu, more effort is needed to help small and medium-sized enterprises
deal with the possibility of slower orders by boosting productivity.
In September, China’s nonmanufacturing sector expanded at a faster pace, with the PMI for the sector hitting 54.9, up from 54.2 in August.
The services sector, which accounts for more than half of the country’s GDP, maintained stable growth, with the subindex measuring business activity in the industry standing at 53.4 in September, flat with August.
Rapid expansion was seen in industries including transportation, retail and telecommunications, according to NBS.
Miao Wei, minister of industry and information technology, said last week that the nation is capable of addressing risks in the manufacturing sector as the country’s sprawling industrial scale and increased innovation capacity allow it to maintain a stable performance.
“Our huge domestic market, a complete industry chain and a quality-assurance system have laid a solid foundation for manufacturing,” Miao added.
In the first eight months of this year, the annual growth rate of China’s high-tech manufacturing hit 11.9 percent, highlighting steady improvement in industrial value.
Xinhua contributed to the story.
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