China's private sector posted its fastest growth in months in September, according to data released Wednesday by RatingDog, a financial technology and credit research firm based in Shenzhen City, south China.
The RatingDog manufacturing Purchasing Managers' Index (PMI), which tracks smaller private companies, came in at 52.1, indicating the fastest factory output growth since April and 10 consecutive months of expansion, supported by rising new domestic and overseas orders.
The services sector expanded at the fastest pace in three months, driven primarily by new businesses.
All of this pushed the comprehensive PMI reading up to 52.4, in turn boosting overall business confidence. However, analysts noted that fierce market competition has sparked price wars among many companies, warning that profit margins could be squeezed further in the coming months.
China's RatingDog PMI for September points to fastest private sector expansion in months
China's RatingDog PMI for September points to fastest private sector expansion in months
Scenic areas across China are seeing a surge in tourist arrivals as the seven-day National Day holiday gets underway, with people taking advantage of the time off to travel and enjoy leisure activities. The Badaling section of the Great Wall in Beijing is witnessing a massive influx of tourists on Thursday, the first day of the holiday. By 10:00, the number of reservations had exceeded 26,000, and more than 10,000 people had already entered the site.
The Badaling section was inscribed on the UNESCO World Heritage List in 1987.
Ticket reservations for the first five days of the holiday at the Jiuzhaigou scenic area in southwest China's Sichuan Province reached the maximum capacity of 41,000 visitors as of 16:00 on Wednesday.
Known for its spectacular waterfalls, lush forests, serene plateau lakes and karst rock formations, the destination is a major draw for travelers.
The Nalati grassland in northwest China's Xinjiang Uygur Autonomous Region is offering a stunning autumn spectacle, with snow-capped mountains, pine forests, open grasslands and flocks of sheep painting a magnificent panorama that has drawn numerous tourists.
Scenic areas across China see surging tourists as National Day holiday begins
