China factory activities slowdown in 9 months: official

China factory activities slowdown in 9 months: official

The Lunar New Year holiday slowed down business operations in China making factory activities move at the slowest pace in nine months, according to official data. Slow activities were recorded in production, new orders and foreign trade. "Lunar New Year fell in mid-February this year, and the holiday factor showed a greater impact on the production and operations of enterprises this month," said NBS senior statistician Zhao Qinghe. However, that has not affected market expectations with the purchase price index of major raw materials still high. Official figures also showed that even as smaller firms were more affected by seasonal factors, expectations for sectors such as specialised equipment, automobiles and some electronics remain in a higher range -- with some surveyed firms indicating March will be a "peak season" for them. Additionally, the non-manufacturing PMI was 51. 4 this month declining from 52. 4 in January. BEIJING: Activity in China's services sector expanded at the fastest pace in three months in August as new orders rose, prompting the biggest increase in hiring in over a year, China's retail giant Alibaba is finally making its move on Europe. The company is undercutting the sellers' fees to attract vendors but has had