Global manufacturing rebounded in July, with China's factory activity expanding at the fastest pace for nearly a decade in July as domestic demand continued to improve after the coronavirus crisis, though export orders and employment remained weak.
However, the situation may not continue in the third round of the pandemic.
The Caixin/Markit Manufacturing Purchasing Managers' Index rose to 52.8 last month from June's 51.2, marking the sector's third consecutive month of growth and the biggest jump since January 2011.
Meanwhile, the Chinese Academy of Sciences published an article promoting Shenzhen and other three mainland cities as municipalities.
According to mainland media reports, two of the national institution members suggested the idea of optimizing administrative divisions by upgrading Shenzhen, Qingdao, Dalian and Kashgar to municipalities during the "14th Five-Year Plan," to promote management.
But the authors of the article emphasized should it is just academic research which does not entitle for any national policies.
The Eurozone manufacturing Purchasing Managers Index surged to 51.8 in July from 47.4 in June, a 20-month high. It was also the first growth reading in 18 months. And the manufacturing PMI of Japan in July also rose to 45.2, which was higher than the value of 40.1 in June, marking the 15th consecutive month below 50 - a contraction signal. However, the contraction rate was the smallest among the past five months.
The Caixin/Markit Manufacturing PMI rose to 52.8.
AFP
