China's factory growth stabilized in November aided by firm demand, a pair of surveys showed, a sign of resilience in the world's second-largest economy that augurs well for its plans for structural reforms. The upbeat results supported the Australian dollar -- a proxy for the Chinese growth engine -- in early Asian trade and heartened investors who worried that China's economic growth may slip in the fourth quarter. Qu Hongbin, an economist at HSBC, said the final HSBC PMI was revised up from its preliminary reading after firms reported more business, but said spots of weakness in the PMI poll should prevent China from tightening monetary policy. With the economy growing at a rate of over seven percent and house prices clinging stubbornly to record highs, China's leaders have signaled lately that policy may be tightened slightly to temper price pressures.
via Business News - Yahoo Finance http://finance.yahoo.com/news/steady-china-factory-growth-november-034622016.html
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