China factory activity growth accelerates in Dec - Caixin PMI

An employee works on engines at a factory in Qingzhou, in China's eastern Shandong province. — AFP

BEIJING: China's factory activity expanded at a quicker pace in December due to stronger gains in output and new orders, but business confidence for 2024 remained subdued, a private-sector survey showed on Tuesday.

The Caixin/S&P Global manufacturing PMI rose to 50.8 at the end of 2023 from 50.7 in November, marking the fastest expansion in seven months and surpassing analysts' forecasts of 50.4. The 50-point mark separates growth from contraction.