China EconTalk: Signals of recovery in economic activities
CGTN Global Business and Timothy Pope
["china"]
01:54
Chinese banks loans beat the market expectation and extended 1.7 trillion yuan in March as policymakers pushed lenders to support struggling smaller companies and shore up the slowing economy. Chief analyst Li Liuyang at China Merchants Bank said it a signal of a recovery in economic activities.
China's huge manufacturing industry rebounded in March. The official Purchasing Managers Index for the month jumped to 50.5, which is above the critical level. The country's factories were picking up new orders and hiring workers again.
The International Monetary Fund raised its China forecast. While Li said China has a long way to escape the downward trend.
"We have to continue structural reform and support for the SMEs," he said. SMEs contribute to more than 50 percent of Chinese government's tax revenue and over 80 percent of urban employment.  
China's prospects brightened, while under pressure of trade tensions and global issues, Li said the country still has a long way to go.