China factory activity accelerated in December: Caixin

Beijing

CHINESE factory activity accelerated in December, according to independent data released on Tuesday, a positive indicator for the world's second-largest economy to kick off the new year.

The Caixin Purchasing Managers Index (PMI) - an indicator of conditions at small manufacturers - rose to 51.5 in December, up from 50.8 in November and the highest reading since August.

A PMI figure above 50 represents growth while anything below points to contraction.

Caixin's index focuses on economic activity at small and medium sized enterprises, and its continued strength may reflect the resilient global de…