China's manufacturing activity rebounded to the highest level since last August in March, thanks to the government's continued structural reforms, official data showed on Friday.
The purchasing managers' index (PMI) came in at 50.2 in March, up from February's 49, according to the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing. A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
NBS statistician Zhao Qinghe attributed the rebound to the government's pro-growth measures, as well as the rising demand of manufacturing imports and exports. The price rebound of major international commodities spurred purchases. Technology upgrades also contributed to improvement of manufacturing sectors, said Zhao.
The sub-index measuring production stood at 52.3, up 2.1 points from a month earlier, with that for new orders settling at 51.4, up 2.8 points. The sub-index for imports came in at 50.1, up 4.3 points from February, the highest reading since December, 2013.
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