Economic data from China continued to improve following the release of the Caixin (China General Manufacturing PMI) and official data yesterday morning indicating early signs of economic recovery amid the Corona Virus pandemic. PMI rose from 40.3 to 50.1 points, which is better than the 45.0 points expected.
The recovery of the manufacturing sector may be attributed to the easing of travel restrictions, but new orders have dropped against the backdrop of a substantial reduction in exports due to the rapid spread of the virus outside China.
Despite significant improvement in the sector's performance, the Bureau of Statistics emphasised the continuing challenges facing the sector.
China's Ministry of Industry and Information Technology said on Monday at a press conference that the resumption of the work rate for small and medium-sized enterprises nationwide reached 76% as of March 28.