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China’s economic recovery rolls on

HONG KONG: China's manufacturing data for October showed the country's economic recovery is strengthening, giving policy makers more room to pare stimulus measures in coming months, according to Bloomberg.

The Purchasing Managers' Index rose to a seasonally adjusted 55.2, the highest level in 18 months.

Beijing's stimulus package and new loans have helped sustain the economy's rebound after overseas shipments slumped during the financial crisis.

Reuters says China's exports face a "hard and tortuous" road to recovery with the trade surplus expected to fall to between US$180 billion and $190 billion this year from a record $295.5 billion in 2008.

Exports in September were down 15.2 percent year-on-year, with the Government expecting a double-digit fall for the whole of 2009.

Source: China Economic Review

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