Factory activity, Beige Book point to China's economy regaining momentum

Shanghai

CHINA'S factory activity showed signs of stabilising in June, with two private surveys suggesting the economy may be regaining some momentum even as many analysts expect further policy support to ensure the recovery becomes more sure-footed.

The HSBC/Markit Flash China Manufacturing Purchasing Managers' Index (PMI) edged up to 49.6 in June, a three-month high, from 49.2, but remained below the 50 mark which separates contraction from expansion.