High-end manufacturing, major enterprises boost China's manufacturing PMI in June

China's manufacturing purchasing managers' index (PMI) has seen a wide-ranging recovery in June, boosted by favorable performance of high-end manufacturing and equipment manufacturing, and steady expansion of large-scale enterprises, according to competent government authorities on Monday.

China's National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) jointly announced that China's manufacturing sector PMI came in at 49.7 in June, up 0.2 percentage point from May.

For specific sectors, the PMI for equipment manufacturing reached 51.4 percent, up 0.2 percentage point from last month. Both its production index and new orders index remained above 53 percent.

The PMI for high-tech manufacturing stood at 50.9 percent, holding steady from the previous month, with its production and new orders indices hovering around 52 percent. Overall, supply and demand in new growth-driving sectors continued a healthy momentum.

"New growth drivers have continued to maintain relatively rapid growth. Equipment manufacturing and special high-end manufacturing, especially sectors related to digitalization and information technology, have all seen strong growth momentum," said CFLP Vice President He Hui.

Stimulated by a series of consumption-boosting policies, consumer goods manufacturing has also posted steady increase so far in June. Data show that the consumer goods PMI in June was 50.4 percent, with a month-on-month increase of 0.2 percentage point. Operation of the basic raw materials sector has seen a faster increase at 0.8 percent, ending three months of decline.

Computed by the size of enterprises, large enterprises continued to expand, with accelerating momentum. Their PMI in June has reached 51.2 percent, up 0.5 percentage point from the previous month.

"This month, the PMI for large-sized enterprises has continued to rise in the expansion range, showing that large-sized enterprises are still providing relatively significant support to the manufacturing sector overall," said Huo Lihui, director of the Business Climate Survey Division of the Service Survey Center of NBS.

Meanwhile, the PMI for medium-sized enterprises has risen by 1.1 percentage points from the previous month, ending two months of decline. Their new orders index has surged more than 4 percentage points month on month, indicating a clear rebound in demand among medium-sized firms.

According to official standards, large-sized enterprise refers to enterprises each with over 1,000 employees and 400 million yuan (about 55.8 million U.S. dollars) in annual revenue, while for medium-sized enterprises, the standard stands at 300 employees and 20 million yuan (about 2.8 million U.S. dollars) in annual revenue each.

High-end manufacturing, major enterprises boost China's manufacturing PMI in June

High-end manufacturing, major enterprises boost China's manufacturing PMI in June

A major port in northern Venezuela came under U.S. airstrikes in the early hours of January 3, which caused extensive damage to civilian infrastructure, destroyed critical medical supplies in a warehouse, and severely impacted centuries-old cultural heritage sites, according to local residents.

The La Guaira Port, a vital hub for imports that support daily life in the region, was heavily damaged during the attack.

Large quantities of medical supplies stored at the port were destroyed. A historic cultural building dating back for some 300 years was also badly damaged by the bombardment.

Residents living near the port recalled the terrifying scenes as explosions shook nearby neighborhoods.

Humberto Bolivar, who lives in a community separated from the port by only a main road, said the blast waves shattered his home's windows, while stray shrapnel struck the water tank on his roof. According to reports, three missiles were fired at the port that night.

Bolivar said that beyond material losses, he is most concerned about the psychological impact on his children, who remain too frightened to leave their home days after the attack.

"The United States invaded our country. The children were frightened. This is not good for them, because it leaves some children with psychological trauma. They do not want to go to school or leave the house, because they are afraid that something worse might happen. We truly do not want this to happen to our country," he said.

Apart from civilian facilities, local cultural heritage site was also affected.

The La Guaira state government building, a structure with nearly 300 years of history and once served as the site of Venezuela's first national customs office, was struck by the force of the explosions.

Windows of the building were shattered, and furniture scattered across the floor.

"As people of La Guaira, we feel deep pain. Our cultural heritage has been bombed. We are living in constant anxiety and suffering, and life can no longer be the same as it was before," said a local named Henry Cumares.

The U.S. side has claimed the airstrikes targeted warehouses allegedly used to store narcotics. However, locals refuted such accusation.

"According to what Donald Trump said, they bombed this place using the excuse that the warehouses here were used to store drugs at the port. But based on the video released by our governor, these warehouses that were burned contained medicine for kidney patients and foods. Many people depend on these supplies to survive. I think the bombing is extremely despicable," said a local resident named Alejandro Capriles.

US strike hits Venezuelan port, wrecking medical supplies, heritage building