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China factory activity grows, ending longest slump on record
President Xi Jinping declared China is set to meet its economic targets for 2025, with growth expected to reach “about 5%,” providing an upbeat backdrop to data showing a recovery in the nation’s manufacturing sector. Addressing the country’s top political advisory body on New Year’s Eve, Xi said the economy has demonstrated resilience despite challenges. His remarks were bolstered by official data showing the first expansion in factory activity in nine months. “China’s economy has forged ahead under pressure, developing toward the new and the excellent while demonstrating strong resilience and ... (full story)
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