China's manufacturing activity remains in expansion zone in December

China

China's manufacturing activity remains in expansion zone in December

2024-12-31 10:09 Last Updated At：01-01 00:47

China's manufacturing sector continued its recovery in December, with the purchasing managers' index (PMI) holding steady at 50.1 percent, marking three consecutive months in the expansion zone.

The China Federation of Logistics and Purchasing (CFLP), together with the National Bureau of Statistics' Service Survey Center, announced on Tuesday that the country's economic recovery momentum persisted in December, supported by the combined effects of macroeconomic policies.

The implementation of the existing policies, alongside a new set of stimulus measures, has accelerated the recovery of market demand. The New Orders Index rose to 51 percent, up 0.2 percentage points from the previous month, marking its fourth consecutive month of growth. Export also showed steady improvement, with the New Export Orders Index at 48.3 percent, up 0.2 percentage points from the previous month, rising for the second month in a row.

"In key sectors, policies such as the consumer goods trade-in programs and the approach of traditional holidays have further driven the growth. The PMI for the consumer goods sector has continued to rise within the expansion zone," said Huo Lihui, head of the business climate survey division at the Service Survey Center of the National Bureau of Statistics.

Additionally, the equipment mnufacturing PMI reached 50.6 percent in December, marking five consecutive months of expansion and sustaining robust development. By enterprise size, the PMI for medium-sized enterprises climbed to 50.7 percent, entering the expansion zone for the first time in eight months, while both large and medium-sized firms remained in positive territory.

On a quarterly basis, the average manufacturing PMI for the fourth quarter stood at 50.2 percent, significantly higher than the 49.4 percent recorded in the third quarter.

"In the fourth quarter, the balance between supply and demand in social production and business activities further improved, stabilizing the long-term positive trajectory of the national economy. The incremental policies have effectively boosted business expectations, while the Central Economic Work Conference injected stronger confidence into the market, which has ensured a stable conclusion to the economy in 2024 and laid a solid foundation for a strong start in 2025," said Liu Yuhang, director of China Logistics Information Center.

New regulations clarify environment, medicine import issues in Hainan Free Trade Port

2025-01-03 07:03 Last Updated At：07:17

To meet the timeline of starting independent customs operations by the end of 2025, the government of south China's Hainan province issued a series of regulations to stipulate import and export management of Free Trade Port (FTP), with two major documents on environmental safety and medicine import put into effect recently.

To further explain the effects and scope of the two documents, the local government held press conferences on Monday and Tuesday.

The "Several Provisions on the Management of Entry Environmental Safety Access in the Hainan Free Trade Port" took effect on Wednesday, which clarified the scopes and responsibilities regarding potential environmental issues of vessels and import products.

"The document regulates the access management of special items such as hazardous waste, remanufactured products, carry-on items of entry personnel, and radioactive materials. Meanwhile, it clarifies that the storage sites for transit goods should meet environmental safety management requirements, to avoid environmental pollution," said Di Weijie, deputy director of the Department of Ecology and Environment of Hainan Province.

In addition, the administrative rule on zero-tariff import of medicines and medical devices in Hainan Free Trade Port was put into effect on Tuesday, stipulating that before Hainan FTP starts independent customs operations, medical institutions, higher medical education institutions, and pharmaceutical research institutes registered in the Hainan's Boao Lecheng Pilot Zone with independent legal status and approved eligibility can import designated pharmaceuticals and medical devices under the zero-tariff policy.

"The scope [of medicines and medical devices imported under 'zero-tariff' policy] consists of two categories: imported pharmaceuticals and medical devices already approved for registration in China, and specially licensed pharmaceuticals and medical devices for the Boao Lecheng Pilot Zone," said Jia Ning, director of Hainan Boao Lecheng International Medical Tourism Pilot Zone Administration, during the press conference.

With policy supports and related efforts like the Ever Lasting International Innovation Medicine Exhibition held in the Boao Lecheng Pilot Zone, medicine and health care is expected to be a new pillar industry for Hainan.