Industry in bright spot for future expansion

Positive reading: An employee attending to her work at a carpet factory in Shandong province. The pickup in China’s manufacturing sector in December has raised hopes on economic momentum gaining pace this year amid abating cost pressure. — AFP

BEIJING: The pickup in China’s manufacturing sector in December has raised more hopes that economic momentum may improve this year amid stronger policy support and abating cost pressure, experts say.

“Tax and fee cuts, the issuance of local government special bonds and supportive monetary and credit policies are poised to be ramped up at the beginning of the year,” said Wen Bin, chief researcher at China Minsheng Bank.