The official purchasing managers’ index (PMI) rose slightly to 49.7 from 49.4 in both May and June, the National Bureau of Statistics said on Wednesday. Photo: Reuters

Trade war tariffs continue to gnaw away at China’s manufacturing outlook, July data shows

  • Manufacturing purchasing managers’ index (PMI) rose to 49.7 in July from 49.4 in June, but remained in negative territory for the fifth month out of seven in 2019
  • Services and construction index also fell, to 53.7 in July from 54.2 in June, as the pressure of the trade war with the United States builds throughout China’s economy
Topic |   China economy

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The official purchasing managers’ index (PMI) rose slightly to 49.7 from 49.4 in both May and June, the National Bureau of Statistics said on Wednesday. Photo: Reuters
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The State Administration of Foreign Exchange (Safe) on Sunday disclosed that it had cut the portion of US dollar-denominated assets in its reserves portfolio to 58 per cent in 2014. Photo: Bloomberg

China has ‘price to pay’ for cutting US dollar share of forex reserves, analysts say

  • Analysts raise doubts whether Beijing has already gone too far in turning away from the US dollar
  • China shed light on secretive foreign exchange reserves by releasing investment returns and US dollar share in decade to 2014
Topic |   China economy

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The State Administration of Foreign Exchange (Safe) on Sunday disclosed that it had cut the portion of US dollar-denominated assets in its reserves portfolio to 58 per cent in 2014. Photo: Bloomberg
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