China Manufacturing Gains Rebound
Adding to recent manufacturing gains in China is the rebound of its services industries - a good indication of the country's economic recovery after a seven-quarter slowdown. China's economy has been considered as the second biggest in the world, which is why any change -whether high or low - is always a great deal to watch out for.
One of the country's biggest shipping companies, China Cosco Holdings Co., reported a smaller loss in the third quarter of this year compared to last year's report. The National Bureau of Statistics and China Federation of Logistics and Purchasing gave a report that the purchasing managers' index rose 1.8 points in October compared to the previous month. The index was 53.7 in September then went up to 55.5 in October.
These improvements may help ease the pressure among China's leaders as they embark on a power transfer this week. China's central bank said that the economy is foresighted to maintain a steady and relatively rapid growth due to the effects of earlier government policies on expansion. Cai Jin, vice chairman of the logistics federation, issued a statement on Nov. 3 that domestic demand has become more apparent due to the country's action to boost domestic demand. He further added that the expansion in non-manufacturing industries will help build up the foundation for steady growth.
With these projected forecasts on China's economy, a sense of confidence is building up among businessmen and the public alike. Tourism is expected to boom and employment has a strong potential for growth. The People's Bank of China released a report on Nov. 2 that the preemptive fine-tuning of macro-economic policies and structural reform measures are gradually taking effect and that the economy is set to a steady and quite rapid growth. All of the reports provided have created positive feedback not just to China's citizens but also to foreign tourists who would like to visit and see the beauty of China and even build businesses in the country.
Due to this expansion and economic rise, more and more businesses, both foreign and local, are expected to open in the country. Tourism as well is going up in the country and there are many agencies that are willing and capable of assisting foreign guests in their visit to China. The country in general is more confident at this time to welcome tourists and foreign guests.