Foreign media: economic data from China 'full of hopeful signals'

The National Bureau of Statistics of China recently released data showing major indexes have been in the expansion zone for three consecutive months, indicating that China's economic development is still stabilizing and recovering, which has attracted widespread attention overseas.

Foreign media pointed out that a series of economic data from China is "full of hopeful signals". China's steady economic recovery injects strong power into the world economy.

"China's service sector activity expanded at the fastest pace in more than a decade in March," reported the Financial Times on March 31, with China's non-manufacturing purchasing managers' index reaching 58.2 percent in March, up from 56.3 percent in February and the highest level since May 2011.

"The signs from China's manufacturing and non-manufacturing sectors are encouraging," said the times. China's PMI also beat expectations in March, indicating significant growth in retail, transport, and construction activity. The business activity index for the construction sector hit a new high of 65.6 percent since July 2011.

"There is no doubting the strength of the rebound in the economy," the Wall Street Journal said, citing Aaditya Mattoo, chief economist at the World Bank, who added that data such as the non-manufacturing business activity index indicate that China's economy is continuing to recover as households and businesses adapt to post-pandemic life.

CNN reported on March 31 that the PMI, a key index measuring the strength of China's massive services sector, jumped to its highest level in more than a decade, as the country's economic recovery gained traction. "In light of deteriorating EU and US growth outlook after the banking turmoil, foreign investors are now more willing to park their capital in Chinese investment," CNN quoted Ken Cheung, chief Asian foreign exchange strategist for Mizuho Bank.