HB BEIJING. China’s industry in October won surprising momentum. Two surveys of purchasing managers indicated a rising demand and higher production. Both indexes rose to its highest level in six months. Experts see this as a sign of robust growth in China. The data gave the stock markets in Asia and Europe on Monday buoyancy. The Shanghai Stock Exchange gained 2.5 percent.
The official Chinese purchasing managers’ index rose to 54.7 points from 53.8 points in September, the index climbed to 54.8 HSBC points from 52.9 points in the previous month. The plus is all the more surprising because the barometer usually in October gives way when the national economic life crippling for a week.
"The fact that the purchasing managers index rose despite this seasonal special, suggests that economic activity in October was probably very strong," said the Goldman Sachs experts Song Yu and Helen Qiao.
Both surveys indicate that China’s domestic economy is strong momentum. The domestic demand surged to the top while the increment in foreign orders was lower than the previous month. Qu Hongbin, HSBC expert expects a growth of Chinese economy to grow by nine percent in the fourth quarter.
Zhang Liqun Government expert warned against excessive optimism. "We have to keep an eye on the developments closely," he said. The growth in China had lost its momentum during the year: Did the economic performance at the beginning still risen by 11.9 percent last year, so the growth rate decreased until the summer to 9.6 percent.