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China's manufacturing sector saw a decline in its purchasing managers' index from 49.2 in April to 48.8 in May, according to recent data from the National Bureau of Statistics. The major reason for this downturn in factory activity, according to Liu Zhiqin of the Chongyang Institute for Financial Studies, is weak global demand. To counter this, Liu recommends that manufacturers look into developing new products and technologies to explore fresh opportunities and stimulate demand in the sector. This could be a way to boost the manufacturing industry in China and overcome challenges posed by sluggish global demand.
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466