China manufacturing expands at fastest pace this year

China's manufacturing expanded in June at the fastest pace this year, adding to signs that the government's efforts to arrest a slowdown are helping to stabilize the world's second-biggest economy. The Purchasing Managers' Index (CPMINDX) was at 51.0, the National Bureau of Statistics and China Federation of Logistics and Purchasing said today in Beijing, matching analysts' median estimate and increasing from May's 50.8. A similar index from HSBC Holdings Plc and Markit Economics rose to 50.7 from the previous month's 49.4. "The mini-stimulus has boosted confidence -- that is pretty clear," said Chen Xingdong, chief China economist at BNP Paribas SA in Beijing.

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