In March Chinese manufacturing PMI was 49.7 which appeared to be a 13-month maximum.
According to the official data the pick-up in activity was 1.7 pips. However, experts consider the growth non-solid as the manufactures increase productivity by boosting demand on the export markets and at the same time, reducing the cost. Currency devaluation politics of the People's Bank of China, which tends to stimulate export potential of the companies, works as a positive factor.
However, after the yuan’s revaluation, an increase of the currency rate can cause a drop in export volumes. The Chinese regulator forced up the exchange of the yuan by 27 basis points. According to the National Bureau of Statistics China’s official non-manufacturing PMI is 53.8%.
The experts think that Chinese economy will show solid growth right after 50% level is overpassed.
