China showing signs of economic recovery

Strong rebound: Xi (third from left) visiting the Chuanshan port area of the Ningbo-Zhoushan Port in east China’s Zhejiang province. He is inspecting the resumption of work and production in the area. — Xinhua

After defeating the domestic Covid-19 epidemic, China’s focus is now shifted to restarting its virus-battered economy.

ON Tuesday, China’s National Bureau of Statistics (NBS) released a set of heartening data for March that indicated Beijing’s efforts to restart its virus-hit economy is showing some positive results.

The Purchasing Managers’ Index (PMI), a key gauge of manufacturing activity, surprised at 52.0 in March. This was a strong rebound from 35.7 in February and a much higher figure than the 44.8 analysts expected in a Bloomberg survey.