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The latest China Jan Caixin Manufacturing.....>

CHINA
CHINA: The latest China Jan Caixin Manufacturing PMI wad disappointing printing
at 48.3; Median 49.6; Dec 49.7. The export front was a little warmer than that
seen in the South Korea & Japan manufacturing PMIs, with the survey noting that
"the gauge for new export orders rose notably above the 50 level, the dividing
line that separates contraction from expansion, reaching its highest point since
March 2018, showing that companies' export orders have obviously rebounded since
the truce in the China-U.S. trade war." However, the survey also notes that "on
the whole, countercyclical economic policy hasn't had a significant effect.
While domestic manufacturing demand shrank, external demand turned positive and
became a bright spot amid positive progress in Sino-U.S. trade talks. As
companies were more willing to reduce their inventories, their output declined,
indicating notable downward pressure on China's economy. China is likely to
launch more fiscal and monetary measures and speed up their implementation. Yet
the stance of stabilizing leverage and strict regulation hasn't changed, which
means the weakening trend of China's economy will continue."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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