Chinese manufacturing in June expands at fastest pace in 2014

[BEIJING] China's manufacturing expanded in June at the fastest pace this year, adding to signs that the government's efforts to arrest a slowdown are helping to stabilise the world's second biggest economy.

The Purchasing Managers' Index (PMI) was at 51, the National Bureau of Statistics and China Federation of Logistics and Purchasing (CFLP) said yesterday, matching analysts' median estimate and increasing from May's 50.8. US stocks opened higher yesterday as investors cheered the upbeat Chinese manufacturing data.

A similar index from HSBC Holdings and Markit Economics rose to 50.7 from the previous month's 49.4. Numbers above 50 signal expansion.