The growth of manufacturing enterprises in China accelerated in November
Data released by the State Statistical Office of China on Monday shows that the PMI, which shows the real state of a particular industry, in the industrial sector of the PRC accelerated to 52.1 points in November, which indicates an improvement in the economic situation in the Middle Kingdom. This showed that business activity in the country's industry peaked since 2017, and the PMI in the non-manufacturing sector broke a record since 2012.
In all likelihood, this growth was the result of the actions of the Chinese authorities, which they took to restore the economy from the negative impact of the COVID-19 pandemic in 2020. The authorities have provided businesses with a number of tax breaks and preferential loans on a long-term basis (since the beginning of the pandemic, Chinese banks have increased lending to companies by 40%), as well as increased injections into the country's financial system.
Analysts suggest that many of the measures taken to support the business of the Chinese government decided to extend until another 2 years.