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Real economy to get greater policy boost
1 2021-07-09 08:39:51China Daily
Editor : Li Yan
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An employee polishes steel products at a Baowu Steel production facility in Maanshan, Anhui province, on March 5. (LUO JISHENG/FOR CHINA DAILY)
Enterprises to benefit from reduction in fees of payment services, official says
China has stepped up policy support to spur economic growth and help vulnerable smaller and private businesses, as policymakers consider channeling more funds into the market by cutting the reserve requirement ratio for financial institutions.
The country will adopt monetary tools such as cutting the RRR, which is the cash amount that financial institutions are required to deposit in the central bank, to increase the financial support for the real economy, according to a State Council executive meeting chaired by Premier Li Keqiang on Wednesday.
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China manufacturing slows as supply shortages roil Asia industry Growth in China s June factory activity dipped to a four-month low on higher raw material costs, a shortage of semiconductors and a COVID-19 outbreak in the major export province of Guangdong, amid wider supply chain disruptions in Asia.
FILE PHOTO: An employee works on the production line of electric vehicle (EV) battery manufacturer Octillion in Hefei, Anhui province, China March 30, 2021. Picture taken March 30, 2021. REUTERS/Aly Song/File Photo
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BEIJING: Growth in China s June factory activity dipped to a four-month low on higher raw material costs, a shortage of semiconductors and a COVID-19 outbreak in the major export province of Guangdong, amid wider supply chain disruptions in Asia.
China manufacturing slows as supply shortages roil Asia industry
By Stella Qiu and Ryan Woo
Reuters
BEIJING (Reuters) -Growth in China s June factory activity dipped to a four-month low on higher raw material costs, a shortage of semiconductors and a COVID-19 outbreak in the major export province of Guangdong, amid wider supply chain disruptions in Asia.
The chip supply crunch has hammered other manufacturing powerhouses in Asia. Industrial output in Japan and South Korea slumped in May from the previous month as auto production declined due to semiconductor shortages, adding to concerns of flagging momentum in their respective economies.
China s June official manufacturing Purchasing Manager s Index (PMI) eased slightly to 50.9 versus 51.0 in May, data from the National Bureau of Statistics showed on Wednesday. It, however, exceeded analysts forecast for a slowdown to 50.8.
China manufacturing slows as supply shortages roil Asia industry | Money
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