According to China manufacturing surveys released on Wednesday,China economy is recovering faster than the market had expected.
The official purchasing managers' index (PMI) for June rose to 53.2 from 53.1 in May, consolidating for the fourth month in a row above the watershed mark of 50.
"I believe the current recovery has been confirmed and can be sustained," Fan Gang, an economist who advises the central bank, told a financial forum.He said that China's recovery will be U-shaped,with export growth returning to normal by the end of the year or early 2010.China is the world's second-biggest exporter now.
“China’s recovery is gathering further momentum,” said Lu Ting, an economist with Bank of America Merrill Lynch in Hong Kong. “It has been recovering faster than the market had expected.”In China, the stimulus plan and new loans of 5.84 trillion yuan in the first five months, almost triple lending a year earlier, are driving growth.
“China’s stimulus program is having a demonstrable effect on domestic spending, which has resulted in increased manufacturing activity,” said Jing Ulrich, Hong Kong-based chairwoman of China equities at JPMorgan Chase & Co.
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reason ? the governmental stimulous input into infrustuctures...
details ? just reveal the PMI in detail....