HSBC reports a strong rebound in China's private sector

Sino-New Society issued Jiangsu-Xu Yuiping in Shanghai January 6, HSBC, 6th, issued a survey of China's private economy in December 2008, saying that China's private sector has rebounded strongly.　　According to the survey, in December last year, China's private sector of the new business growth rate was the highest since September last year, the new manufacturing orders for more rapid growth, the combination of both the "New business composite Index" rose to a four-month high. The data for the month showed a resurgence of the workload in China's private sector, the first rally since June 2007.　　The backlog in the manufacturing sector has also risen markedly, with the largest increase in the unfinished business of China's private sector in the month.　　In addition, the overall cost burden and average procurement costs of the private sector in China recorded a notable increase in the survey. Qu Hongbin, HSBC's China chief economist, believes that in the ongoing economic recovery, the new business has consolidated the steady expansion of the private sector and, despite the rising cost burden, the overall performance of the service sector in the next few months will continue to be underpinned by improved employment conditions and measures to encourage consumption. Finish)