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The official index of supply managers (PMI) for the manufacturing sector of China in November was 51.8

Activity in the Chinese industrial production last month showed growth against the backdrop of solid foreign demand. According to the latest report, PMI for this sector was 51.8, 0.2 pp higher than the previous indicator. Experts assumed that the index will not rise above the value of 51.5.

The Chinese economy shows unexpected persistence, despite the fact that many experts expected a cooling of activity by the end of the year on the background of the fact that the country's leadership is focused on reducing excess capacity, as well as on combating pollution of nature and on reducing the debt burden of corporate and financial sphere.

After the indicator fell in October, some experts suggested that this is the beginning of a general slowdown in economic growth. Others justified this dynamic with calendar factors: long holidays and the fact that some enterprises suspended their work for the period of the next congress of the ruling party to reduce air pollution in the capital.

Orders of export and import destination grew during the reporting period, as indicated by the relevant characteristics, and this should make a positive contribution to the overall foreign trade performance of the country. Strong exports along with a high level of government spending was the driver that contributed to the growth of Chinese GDP during the first three quarters of this year to within 6.9%. This means that in the current quarter the achievement of the established annual growth rate of 6.5% looks quite realistic. Given the high likelihood of such an outcome, the country's leadership has engaged in reducing the level of government spending, while continuing to reduce the volume of borrowed funds and regulating activity in the real estate market, trying to give the economy additional sustainability.