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Economy set to stay stable, says report

China's economy is likely to have remained stable in April, with major indicators pointing to continued growth, according to a report by Standard Chartered Bank. The official manufacturing purchasing managers' index came in at 51.4 in April, down from 51.5 in March, suggesting solid performance, the report said. The production sub-index was flat at 53.1, indicating stable production activity. The bank predicted industrial production growth would pick up to 6.5 percent year-on-year in April from 6 percent in March. Retail sales growth is likely to have remained resilient while exports may have recovered in April, according to the report.

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