China’s factory expansion is new sign of recovery

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The non-manufacturing PMI also shows “companies have relatively strong confidence and expectations for future business,” said Bruce Pang, chief economist for Greater China at Jones Lang LaSalle. Exports in the January-February period had rekindled hopes of a broader economic recovery, jumping 7.1 per cent from a year earlier. Weak demand from major economic partners, and mounting sanctions and restrictions on its products had seen China’s trade suffer in the last year. The once-key pillar of the economy is now facing a “bewildering” level of trade curbs, Foreign Minister Wang Yi said last month. Broader problems China has tried to boost...