China factory employment fell to the lowest point in five and a half Chinese manufacturing factory employment fell in September to a low of five and a half years. The picture shows a garment factory in Anhui Province. (AFP) WASHINGTON September 23, 2014 Reuters (Epoch Times reporter fly to compile reports) published by HSBC PMI (manufacturing managers index) showed that although Chinas manufacturing orders unexpectedly rose in September, but this optimism was factory employment situation strikes, factory employment fell to a low of five and a half years. HSBC announced in September PMI was 50.5, compared with 50.2 in August slight, just over the watershed 50 this contraction and expansion. HSBC index shows worrying signal, employment dropped one point to 46.9, up since February 2009 low. Last lows due to the collapse of exports led to tens of millions of Chinese workers unemployed. HSBC survey tends to cover the SMEs, which are believed to be more than large state-owned enterprises in the economic pressures being, while Chinas official figures are mainly covered by large state-owned enterprises. CNBC believes that Chinas economic downturn in recent months has sparked fears the Chinese economy and unrest, growth in industrial production in August as low as the lowest point since the 2008 global economic crisis, and at the same time, Chinas economic lifeline - - the real estate market has also been a continuous decline in four months. CNBC reported that HSBC senior China economist John Zhu said:.. If you look at these figures, compared to market expectations better, but also in the edge of the boundaries of economic growth is very limited compared to the past, and very slow. John Zhu said: This is consistent with our past to say, the economic recovery slow and uneven, producer pricing is very good, if the situation continues, it will be layoffs. It sounded the alarm, along, the Chinese government can tolerate low economic growth, but the fear of the employment rate is affected. Beijing may begin a series of investment activities to stimulate the economy, but the governments economic stimulus package to select a bunch of bruised and battered. A recent stimulus yes, last week the central bank injected 81 billion yuan CCP liquidity to its five largest borrowers. Chinas official figures show that the Chinese government put 2014 growth target of 7.5%. Chinas economic growth in the first quarter of 7.4%, down to a low of six consecutive quarters, the official figures for the second quarter, an increase of 7.5%. Chinese economic expert Dr. Xie Tian believes that the consequences of the Chinese governments economic stimulus since 2008 has not yet been resolved due to the new economic stimulus measures will only lead to Chinas economy is more uneven.
Posted on: Wed, 24 Sep 2014 04:18:52 +0000
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