China raises hopes for better times

Industry data from Europe and the U.S. is currently on long-term lows – not so in China. They believe the purchasing manager is already almost at an end to the crisis. One reason: The government is pumping money into the infrastructure.
The company received the first time in four months, more jobs and expanded in preparation for a further increase in demand from their production. This is apparent from the published on Wednesday showed Purchasing Managers Index. The barometer rose for the third time in succession and with 49 meters was only slightly below the growth threshold of 50 points. “Since this morning there is something more basic, to stabilize the world economy in the second half to hope,” said Andreas Rees, Unicredit chief economist for Germany.

The main reason for the improved mood in the Chinese industry, according to estimates by experts converted the nearly 470 billion economic stimulation package to be heavy, amongst other things, the infrastructure of the vast country will be expanded. China’s economy might find itself on the threshold of a sustained recovery, said the government economist Zhang Liqun. The policy of incentives for growth show effect.

Even in November, the purchasing managers index for the industry, a record low of 38.8 points. But the intervention of the state lifted the mood strong. This is also reflected in the lending of banks resist: In January, the loan amount in local currency to a record high of just under 190 billion euros. According to local media reports said the banks in February around 116 billion euros of debt – including the long-term comparison is still very much.

Speculation that Prime Minister Wen Jiabao held on Thursday to expand the program could have led to strong price gains in the stock market in Shanghai. The benchmark index rose by more than six percent and spurred so that other stock markets in the region. A senior representative of the National Commission for Development and Reform said on Wednesday, extra money should be primarily in infrastructure and manufacturing flow. Even should the social system of the People’s Republic by the expenditure to be strengthened.

On Thursday in Beijing begins the annual meeting of the People’s Congress, on the economic crisis is also a dominant theme is likely to occur. In advance, many officials, from central bankers to finance minister, never tired to assure that China, despite the global economic headwinds to growth target of eight percent this year could reach.

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