China manufacturing sector sees slower growth

Beijing

GROWTH of China's manufacturing sector slowed in July as foreign demand contracted and regulatory clampdown on financial risks began to feed into the economy.

China's official Purchasing Managers' Index (PMI) came in under analysts' expectations last month slowing to 51.4 against 51.7 in June.

But the sector still remains robust, with the figure near record highs. Levels above 50 indicate expansion, while levels below signal contraction.

In a release, the National Bureau of Statistics attributed the slowdown in manufacturing activity to adverse weather conditions, flooding in parts of th…