China's manufacturing PMI rises to 49.7 in June

The purchasing managers' index (PMI) for China's manufacturing sector came in at 49.7 in June, up 0.2 percentage points from May, showed official data released Monday.

A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

According to the data released by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP), 11 of the surveyed 21 industries registered expansion in June, four more than the number of last month.

In terms of production and demand ends, the sub-indexes for production and new orders stood at 51 and 50.2 in June, up 0.3 and 0.4 percentage points from last month respectively. Besides, the sub-index for new export orders saw an increase for two consecutive months in June.

Amid the rising demands of enterprises, the sub-index for the purchase volume in June rose to 50.2, a month-on-month increase of 2.6 percentage points.

"In terms of key industries, the PMI sub-indexes for the equipment manufacturing industry, the high-tech manufacturing industry and the consumer goods industry have all maintained expansion for two consecutive months. The figures for equipment manufacturing and new orders both exceeded 53 percent this month. The production and demand sides of related industries are still active. In addition, the sub-index for high energy-consuming industries is still below the critical point, but the prosperity level this month has also picked up somewhat," said Huo Lihui, director of the business climate survey division of the NBS Service Survey Center.

Due to the simultaneous expansion of market demand and enterprises' raw material procurement activities, the sub-indexes for the purchase price and producer price of major raw materials have risen significantly from last month.

For manufacturing enterprises of different sizes, the prosperity of large and medium-sized ones saw enhanced prosperity in June. In particular, the expansion momentum of large ones has accelerated, demonstrating a significant supporting role in the manufacturing sector.

"From the manufacturing PMI and various sub-indexes in June, the sector has generally maintained a momentum of recovery, reflecting that the internal driving force of our enterprises is gradually being released and the resilience of economic growth is further strengthening," said He Hui, CFLP's vice president.

China's manufacturing PMI rises to 49.7 in June

China's manufacturing PMI rises to 49.7 in June

China's manufacturing PMI rises to 49.7 in June

China's manufacturing PMI rises to 49.7 in June

Thousands of demonstrators rallied in Italy and Greece on Saturday to protest against U.S. military intervention in Venezuela, with protesters in Rome, Milan and Athens condemning Washington's actions and calling for respect for Venezuelan sovereignty.

In Rome, more than 1,000 demonstrators marched toward the area near the U.S. Embassy, calling on Washington to immediately release Venezuelan President Nicolas Maduro and his wife.

Police blocked roads around the embassy to prevent protesters from approaching the building, but demonstrators continued to denounce U.S. actions.

"First of all, we oppose U.S. imperialist aggression. This kind of behavior is shameful. The U.S. is attacking a sovereign country, and as [U.S. President Donald] Trump himself has said, this is for oil interests," said protester Giovanni Barbera.

Saturday's rally marked the second large-scale protest in Rome this month against U.S. military operations in Venezuela, following an earlier one on on Jan 3.

Participants included members of multiple political parties, labor unions and social organizations. The protesters held banners reading "Stop imperialist interference" and "Free Maduro," urging the international community to respect Venezuela's sovereignty and the will of its people, and condemning the U.S. for violating international law.

"We are protesting the way the U.S. handles international politics. Since the events of January 3, we have seen violations of international law, and we are very concerned about how the global situation is developing," said protester Stefano De Angelis.

Organizers said solidarity rallies in support of Venezuela were held in 30 Italian cities on the same day.

Meanwhile, similar protests were also staged in Greece. About 200 people gathered outside the U.S. Embassy in Athens, voicing support for Venezuela and opposition to U.S. military actions.

"We oppose U.S. imperialism and its attack on Venezuela. At the same time, the U.S. is also threatening Cuba, Mexico and Greenland. We must stand up against this behavior," said Greek protester Argiro Sirmakezi.

Protesters rally in Italy, Greece against U.S. military operation in Venezuela