MNI BRIEF: China Manufacturing Shows Positive Trend - NDRC

Authorities in China see the manufacturing sector continuing its upward recovery, Li Chao, spokesperson for the National Development and Reform Commission told reporters on Tuesday.

Li noted industrial firms saw profits rise 4.3% y/y in Q1, the third consecutive quarter of growth, while the manufacturing PMI had held above 50 points in April, indicating firms have stable confidence in future market development.

China’s electricity consumption from January to April was up 9.0% y/y with primary, secondary, tertiary and household use up by 10.1%, 7.5%, 3.5% and 10.8% respectively.

On the implementation of ultra-long-term special treasury bonds, the NDRC will use them to support the major national strategies and the construction of security capabilities, Li said.