China chaussure shox 7413;檚 export orders increase

China chaussure shox 7413;檚 export orders increase
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China鈥檚 export orders increasePublished: 01 Jul 2009 02:02:01 PST

By Daniel Tonga

China’s 4 trillion yuan stimulus package and record bank lending have begun reviving its economy with the manufacturing sector expanding for a fourth month.

According to the Federation of Logistics and Purchasing in an e-mailed statement today, the Purchasing Managers Index rose to 53.2 in June from 53.1 in May. Any rise above 50 in the index signifies an expansion.

Central Bank Governor Zhou Xiaochuan earlier this week stressed that China’s economy would keep improving in the third and fourth quarters which might facilitate a target of 8 percent economic growth by the end of the year.

China’s export orders expanded for a second month, suggesting that the global downturn might be easing.

Economists said the raise in the export orders was the most encouraging sign for an economy that was export dependent.

China is the world’s third-largest economy after the US and Japan.

The stimulus plan introduced last year is to be spent over the next two years to finance programs in 10 major areas such as rural infrastructure, water, electricity, transportation and the environment.

Other areas of priority in the stimulus package include low-income housing, technological innovation, and rebuilding from natural disasters, most notably the May 12 Sichuan earthquake.

(Agencies)

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