Economy showing signs of improvement; outlook good

The Chinese economy is expected to see stable growth this year as indicators in the first quarter reflect improvements in the economic structure, according to official data.

In the first three months, the nation's official Purchasing Managers' Index came in at 54.6, 52.9 and 54, respectively, according to the National Bureau of Statistics. A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

As of the end of March, the official manufacturing PMI, which mainly focuses on the economic activities of large companies and State-owned enterprises, had stayed within expansion territory for 20 consecutive months, and the services PMI held out above 54 for seven consecutive months, the NBS said on Sunday.