China’s manufacturing activity softens expansion


China’s manufacturing sector expanded for the ninth straight month in April, but the pace has slowed as authorities stepped up efforts to contain financial risks.
The manufacturing purchasing managers’ index (PMI) came in at 51.2 in April, lower than the 51.8 recorded in March, according to the National Bureau of Statistics.
The reading fell short of market expectations but still stayed above the boom-bust line of 50.
“As policymakers shift their emphasis to address financial risks, it will inevitably have an impact on liquidity, financing costs and growth expectations,” said Zhang Yiping, a researcher at China Merchants Securities.—Xinhua

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