Demand, credit key to growth now

People walk by a construction site in Beijing. — AP

RECOVERY and expansion of the still-weak demand are critical to lifting China's economic growth, with more credit getting funneled into the manufacturing sector, improving the consumption supply system, officials and experts said on Wednesday.

Meng Wei, a spokeswoman for the National Development and Reform Commission, said at a news conference that April figures for the manufacturing sector — China's official manufacturing purchasing managers' index declined to 49.2 in April from 51.9 in March, sliding into contraction territory — showed that demand has to recover and expand further to help keep industrial growth stable.