Activity at China's big factories continued to pick up this month even as the country battles stubborn Covid-19 outbreaks that threaten to hamper production
Manufacturing activity increased to 50.3 in December from 50.1 in November, according to survey data released by China's National Bureau of Statistics on Friday. It was the second consecutive month that the reading has registered above 50, a level indicating expansion rather than contraction. An official index of non-manufacturing business activity rose to 52.7 in December from 52.3 in November, a sign that the services sector is continuing to recover, too.
Evergrande just this week said that it was making headway on plans to deliver new properties this month, but the stock was shaken after another debt payment deadline passed without signs that the company met its obligations.There are also continued threats to factory output. Two of the world's biggest chipmakers — Samsung and Micron — warned this week that Covid-19 outbreaks and stringent lockdowns in the major Chinese industrial hub of Xi'an are denting their operations.
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