October PMI reached 55.2% China's economy has stabilized

Li Qiang, the Morning News reporter, reported that China's October manufacturing Purchasing Managers Index (PMI), the latest in the Chinese Federation of Logistics and Purchasing, was 55.2%, up 0.9% from last month, up 0.6% from September, and rising at a 18-month high.　　This shows that in a series of "growth-guaranteed" macro-control policies, the current Chinese economy has been basically ironed by the international financial crisis caused by the abnormal fluctuations, the future will move towards a stable and faster development of a new track. Peng, chief economist for Barclays Capital China, said that "October PMI showed continued strong growth in manufacturing activity, and we were confident that the economy would sustain a growth recovery in the fourth quarter of 2009, thanks to strong domestic demand growth and further external demand recovery." "Peng that China's economic growth recovery is sustainable, and he expects GDP growth to be up to 9.6% in 2010."