China Manufacturing PMI Edges Up in December
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At the same time, China's factory activity picked up slightly in December, hinting at a recovery in the country's economy.

The official reading of manufacturing PMI came in at 49.7 last month, up 0.1 percentage point from the previous month.

Cai Jin, a vice-president at the China Federation of Logistics and Purchasing, said both demand and production had improved.

"Speaking from demand side, the pick up of the PMI is mainly the rebound of the order index.

And, speaking from the supply side, it is mainly the rebound of production. The rebound can be regarded as a positive sign of the recovery of Chinese economy."

The manufacturing of consumer products has gained importance in the general manufacturing industry, with better indicators seen in the sluggish iron and steel industry.

Insiders said that the rises in PMI for iron and steel indicate that the market is optimistic towards the ongoing structural optimization of China's domestic iron and steel industry.

Author： 　　　Source：CRI　　　 Editor：Yang Fan