The Caixin China General Manufacturing Purchasing Managers’ Index (PMI) for October released on November 3, 2016 was 51.2, an increase of 1.1 from last month and the highest level during the past two years. The reading has recorded the positive growth for four consecutive months. Meanwhile, the official manufacturing PMI for October, released by the National Bureau of Statistics, was 51.2, an increase by 0.8% from the previous month. The figure is exactly the same as that of Caixin China General, indicating that China’s manufacturing industry is recovering significantly. In response, Professor Liu Zhibiao, Dean of Yangtze IDEI, pointed out, “At present, it is a hot topic whether China’s economy has bottomed up. Some people believe that China’s economy has shown an L-shaped growth trend this year. In addition, the PPI has turned positive and CPI has been long above 2, which is an obvious bottom-up sign. Others believe that we are still facing increasing economic downward pressure in the short term, and thus it is still far for the economy to reach the bottom.” The participating experts and scholars also made predictions and judgments on the current domestic economic trend, and proposed targeted recommendations and proposals.
