Exceeding 50% for the fifth month in a row, the Purchasing Managers' Index (PMI) of China's manufacturing sector was up 0.2 percentage points MoM to 51.1% in July, in a sign of accelerating economic recovery. The data were recently issued by the China Federation of Logistics & Purchasing and the National Bureau of Statistics.

Recovery of import and export continued despite a complex external environment. New export order index rose for three consecutive months, standing at 48.4% in July, up 5.8 percentage points from a month earlier. Import index hit this year’s record high of 49.1% in July, up 2.1 percentage points MoM.