China's economy showed signs of steady recovery in the first half of the year, with purchasing managers' index (PMI) data pointing to improving sentiment in both manufacturing and non-manufacturing sectors.
As a leading indicator of macroeconomic trends, the PMI offers valuable insight into the health and direction of China's economy. Recent PMI data suggest that despite short-term fluctuations, China's economy remains resilient and continues to recover steadily.
In the second quarter, manufacturing activity experienced some volatility. However, the economy quickly stabilized in the face of external shocks, supported by sustained internal momentum and solid enterprise production.
Data from the National Bureau of Statistics (NBS) showed that the manufacturing PMI stood at 49.7 in June, up 0.2 percentage points from May, marking the second consecutive monthly uptick.
At the same time, the non-manufacturing sector continued its steady expansion, with the business activity index coming in at 50.5 in June, also up 0.2 points from the previous month. In the second quarter, the average non-manufacturing PMI scored 50.4, nearly on par with Q1's 50.5, highlighting a persistent recovery in services and construction. "Despite short-term fluctuations in Q2 due to external factors, China's economy maintained stable growth overall. As policies to stabilize investment and boost consumption continue to take effect, the market's internal momentum is strengthening, laying a more solid foundation for sustained recovery," said He Hui, vice president of the China Federation of Logistics and Purchasing.
Officials also noted that sectors tied to investment and consumption maintained strong fundamentals, while financial support for the real economy continued to increase, providing further impetus for demand expansion.
A PMI reading above 50 indicates expansion, while below 50 reflects contraction.
China's economy stabilizes as PMI signals resilience
China's economy stabilizes as PMI signals resilience
China's economy stabilizes as PMI signals resilience
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
