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Chinese business surveys at peaks, signal rosy outlook
BEIJING, Dec 1 - China's economy is ending the year on a strong note, laying the foundations for solid expansion in 2010, a pair of business surveys showed on Tuesday.
An index produced for HSBC, based on a poll of purchasing executives in manufacturing, hit a record high in November, while a parallel official index was unchanged at an 18-month peak.
Together, the surveys showed that the world's third-largest economy has largely recovered from the global downturn thanks to aggressive pro-growth measures adopted a year ago.
The ruling Communist Party, in a policy statement issued last Friday, said it would stick with the loose monetary settings and active fiscal stance that have produced a record credit surge this year to support a 4 trillion yuan government stimulus package launched in November 2008.
An index produced for HSBC, based on a poll of purchasing executives in manufacturing, hit a record high in November, while a parallel official index was unchanged at an 18-month peak.
Together, the surveys showed that the world's third-largest economy has largely recovered from the global downturn thanks to aggressive pro-growth measures adopted a year ago.
The ruling Communist Party, in a policy statement issued last Friday, said it would stick with the loose monetary settings and active fiscal stance that have produced a record credit surge this year to support a 4 trillion yuan government stimulus package launched in November 2008.
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Chinese business surveys
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